ICICI compensates families of loan defaulters

In the first-ever case of its kind, ICICI Bank has compensated the families of its two borrowers who allegedly died due to harassment by the bank's recovery agents.

The bank has paid Rs 10 lakh in the form of fixed deposit to the family of Prakash Sarvankar from Andheri here who committed suicide after being publicly humiliated by the agents for recovery of a personal loan.

The family of Yadaiah, a resident of Hyderabad, who died of a heart attack while he was made to sit in a branch of the bank for recovery of a Rs 15,000 loan, has been paid around Rs 3 lakh.