Andhra Bank union holds 'peaceful' protest against defaulters

In a novel move, members of an Andhra Bank union today staged a 'peaceful' protest at the residences of two alleged wilful defaulters here to press for the repayment of loan.
Members of Andhra Bank Officers and Staff Federation protested outside the residences of two industrialists, claiming that they were "wilful defaulters" and demanded repayment of the loan taken by them.
This movement against the defaulters of bank loans has been taken up at national level, said Jagan Mohan Rao, the assistant secretary of the federation.
As part of the protest, peaceful sit-in would be staged at the residences of the defaulters while demanding them to repay the loan immediately, Rao said.

The unions feel that it is their responsibility to save the bank from the 'wilful defaulters', he added.
A wilful default occurs when a defaulting borrower doesn't honour an obligation despite having the capacity to pay, or siphoning of funds and disposing off assets without the knowledge of the bank.