Unable to repay loan, man ends life in Asifabad
Wankidi Sub-Inspector Sagar said that Akarapu Santosh from Bambara could not repay the loan of Rs 5 lakh availed from Axis bank while he was working a poultry farm in Karimnagar a few years ago.
Kumram Bheem Asifabad: A 38-year old man died by hanging as he was reportedly depressed over his inability to repay a loan taken from a private bank at Bambara village in Wankidi mandal on Tuesday.
Wankidi Sub-Inspector Sagar said that Akarapu Santosh from Bambara could not repay the loan of Rs 5 lakh availed from Axis bank while he was working a poultry farm in Karimnagar a few years ago. He was found hanging to a tree at a dumping yard on the outskirts of the village.
Santosh migrated to Karimnagar in search of livelihood in 2014. He worked with a poultry farm in Karimnagar. While working, he invested the loan amount and savings to the tune of Rs 1 lakh in a cloth trading business.
He however was forced to return to Bambara due to Covid-19 lockdown. He suffered losses and was struggling to repay the loan. He is survived by a wife and two sons.
