Recently the Andhra Bank has come up with new idea for loan recovery. The employees of the bank have planned to silently protest for the repayment of the loans. By wearing black bands and holding placards displaying “We want repayment of loans” the employees protested and asked for the repayment of loan of up to Rs 37.13 Crore.
This is a new innovative method of bank of silent protest against defaulting borrower companies in the recent past. Whereas other banks like Indian Banks used other methods like tracking to recover the loan payment. It is been reported that the silent protest is a directive from the bank's head quarters and Andhra Bank branches in areas like Guntur and Vijayawada.