Agartala, September 01, 2023: The Punjab National Bank has taken decisive action against a loan defaulter in Santirbazar, South Tripura District on Friday. The bank has sealed the premises, including the residence, after the borrower, identified as Rajib Sarkar, failed to repay a significant loan amount on time.

According to reports, Rajib Sarkar had originally obtained a loan from the Santirbazar branch of Punjab National Bank, utilizing the name of Biswajit Sarkar, who resides in the Laugang area under Santirbazar sub-division. It’s worth noting that the property in question is registered under Rajib Sarkar’s name.

This situation escalated due to non-payment of loan installments spanning nearly eight years, resulting in an outstanding debt amounting to Rs. 20 lakhs. Despite repeated notifications from the bank, Rajib Sarkar remained uncooperative and refused to make any payments.

Taking action, the bank authorities, in coordination with the Santirbazar Sub-division Magistrate’s Office and the Santirbazar police station security department, executed a legal order issued by the District Magistrate of the southern district Saju Waheed A. As a consequence, the occupants of the property were evicted, the household furniture was removed, and the premises were securely locked and sealed.

This development underscores the seriousness with which financial institutions are addressing loan defaults, emphasizing their commitment to protecting the interests of lenders and maintaining financial integrity.