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Kerala Kaumudi Online
Tuesday, 27 February 2024 3.35 AM IST

Bank secretary assists housewife facing foreclosure due to delayed loan repayment

loan

CHAVARA: KR Suresh Kumar, the Secretary of Chavara No. 147 Service Cooperative Bank extended a helping hand to Maheshwari, a Chittoor resident amidst the threat of losing her home due to delayed repayment of a Rs 35,000 loan. Maheshwari, a widow battling cancer and caring for her mentally challenged son had taken the loan from the Congress-ruled Cooperative Bank eight years ago.

As the outstanding loan including interest and penalties, soared to 75,000 rupees, the family faced imminent confiscation proceedings. Suresh Kumar, in an effort to aid the distressed family, utilized his PF account to pay off 35,000 rupees of the loan without charging additional interest or penalties. He promptly informed the Cooperation Department about the dire situation.

Upon receiving permission from the Cooperative Department, Suresh Kumar cleared the outstanding amount, providing a reprieve to Maheshwari. In a gesture of goodwill, Bank President Kolath Venugopal handed over the property's ownership rights to Maheshwari during a Sahakari Sangamam event near Titanium Junction, organized as part of the All-India Cooperation Week celebrations.

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