In an attempt to boost the sagging image of the ICICI Bank, the officials on Thursday said that the Bank would introduce redressal systems to tackle problems pertaining to loans, specifically in the rural areas.
Addressing mediapersons, Senior General Manager of the Bank B Madhivannan said the bank would put efficient mechanisms such as a dedicated helpline and documentation of entire loan transaction, in Kannada.
The Bank will also avail the services of Disha Financial Counselling, an initiative in consumer financial counselling which provides financial education, credit counselling and debt management services in various cities. These services, Madhivannan said, would be extended to rural areas within few months’ time. “We plan to enroll retired bank officials and justices to do the necessary counselling in a way that is familiar to the farmers,” he said.
Admitting that the lack of credit culture led to complications in the incident of farmer Manjunath committing suicide; following the repossession of his tractor by the recovery agents attached to the Bank, Madhivannan was quick to add that no force was used in the matter and the Bank has adhered to all norms as specified by the Reserve Bank of India. “We submitted a bond for the specified amount - Rs 10 lakh and 98 pages of document related to the tractor loan he had taken, with regard to the case,” he said.
There are two agencies which are working as recovery agents for the Bank. “The process of verifying the credentials of about 30,000 recovery agents working for ICICI all over India would be complete by the end of this month,” he said.


 HELPLINE

Farmers who have queries or complaints pertaining to the loans or recovery process can call 98801 12233.