Bank pays Rs 15 lakh to dead customer’s wife | india | Hindustan Times
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Bank pays Rs 15 lakh to dead customer’s wife

india Updated: Sep 28, 2007 01:34 IST

After being threatened and harrassed by recovery agents of ICICI Bank for not being able to pay the instalments on his Rs 50,000 loan, Prakash Sarvankar, a resident of Andheri (East) hanged himself 10 days ago. On Thursday, the bank agreed to pay his wife Priyanka Rs 15.50 lakh as compensation.

Prakash had written a suicide note, blaming the recovery agents for his death. He had been jobless for the last six months.

On Thursday, Priyanka received a letter from the bank stating that she would get a fixed deposit of Rs 10 lakh at 9.5 per cent interest for 59 months. There was also a Rs 25 lakh life insurance policy as well as a Rs 4 lakh medical cover for Priyanka. Her daughters got Rs 3 lakh each as medical cover.

An ICICI official said, “This is a gesture on our part to the deceased’s family. Investigations will reveal where the lapse was.”