VizagNews.com - CP asks Banks not to engage coercive methods for recovery of dues

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Visakhapatnam, December 24, 2005

The Commissioner of Police VSK Kaumudi on Saturday advised the banks not use coercive methods for recovery of dues.

The Commissioner of Police VSK Kaumudi on Saturday advised the banks not use coercive methods for recovery of dues. Review the security apparatus being adopted at various banks and gold shops in the city, he said that they should not take any chance in preventing burglaries and dacoities.

He said that the banks must proceed legally to recover dues from the borrowers to recover dues from the borrowers instead of resorting to arm twisting methods through the recovery agents. Apart from Jewelery merchants, he asked the banks to install closed circuit TVs at the earliest to keep a tab on strangers and suspicious elements and improve the security system as per the instructions given by Reserve Bank of India. He said the police had recovered Rs.1.5 lakhs which was stolen from Bank of India.

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