During the last month meeting of Nationalized Banks with Prime Minister Narendra Modi, Andhra Bank was received clear cut signals from the Government and RBI as well to merge the bank with other one. This meeting was conducted by RBI seeking to reduce the NPAs (Non-Performed Assets) of Nationalized Banks.
Andhra Bank is also one of the Banks which suffered with huge percentage % NPAs. AB employees opposed the move and requested the RBI and Union Government to give time to reduce the NPAs. Andhra Bank served notice to all defaulters for recovering loans.
AB has chosen different style of protests against the defaulters to get back its NPAs. Different branch employees of two states protest at the houses and offices of the defaulters for recovering their money. They protest in similar manner in Vijayawada, Hyderabad and Jaggaiahpet. Bank employees protest with showing the placards in front of defaulter’s houses.
One customer in Vijayawada took loan of 52 crores from Andhra Bank and ignored to pay the amount. Bank Employees protest opposite to his house and demand to pay the amount. Somanath Industries in Jaggaiahpet took loan of 5 crores and neglected to pay the loan. Kukatpally Andhra Bank employees protest opposite GK Bio-Sciences. Bank employees have struggled to reduce the NPAs and to save their jobs.
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