Loan application rejected; medical shop owner commits suicide outside bank in Thiruvananthapuram

THIRUVANANTHAPURAM: In a shocking incident, a 57-year-old medical shop owner committed suicide outside a bank in Thiruvananthapuram after his loan application was rejected. The deceased was identified as V.S. Manu (57), a native of Madathunada in Aryanad. Manu was found hanging from the grill of a handrail in the middle section of the staircase of the building housing the UCO Bank branch in Kudappanakunnu on Friday morning.

Manu owned the Vishwas Community Medical Shop in Vattappara and was a former office-bearer of an SNDP Yogam branch in Aryanad. He had applied for a loan under the Centre's Emergency Credit Line Guarantee Scheme (ECLGS). However, his application was reportedly rejected by the bank manager, citing an outstanding agricultural loan of Rs 40,000 from another bank. The decision came around 60 days after he submitted the loan application.

Manu had filed a complaint with the bank's zonal manager on the 17th, alleging that the rejection of an ECLGS loan application for an MSME was against Reserve Bank rules. He had sought a written decision within two days, either approving or rejecting the loan. However, no decision was taken on his complaint, according to the report.

Relatives alleged that Manu had been repeatedly asked to visit the bank after being told that the loan would be sanctioned, only for his application to be later rejected.

Friends said Manu had owned more than one medical shop but had sold them due to debt. Manu, who had been living separately from his wife, had recently been staying at his home and his sister's house. He is survived by his son, Adithyan. The Peroorkada police have registered a case.