Don't force borrowers to pay EMI, Dharwad DC tells bankers

Dharwad: Following complaints from borrowers that banks were pressurising them to pay the loan instalments despite the Centre announcing a moratorium of three months, deputy commissioner Deepa Cholan on Saturday warned of taking stern action against such bankers .

Chairing a meeting of managers of nationalized, scheduled commercial banks and micro finance companies here, she said the lockdown due to Covid-19 has brought all economic and farming activities to a halt and the government is trying to help affected people by offering incentives and launching various schemes.

Under such circumstances, forcing borrowers to pay EMIs is improper, Deepa said.

“There are complaints to the lead bank about bankers forcing customers to repay. If any specific complaint is received, action will be initiated against the bank concerned,” she warned.

District lead bank manager Ishwar, ZP CEO B C Satish and others also spoke.