Depressed over recovery of loans, private bank employee ends life in Yanam

In a tragic incident that took place in Yanam near Kakinada, a bank manager committed suicide due to depression as he could not recover the sanctioned loans. Going into the details, Sairatna Srikanth is working as a manager in a private bank. He lives in a rented house with his wife and two children.

On Tuesday morning, Srikanth's wife Gayatri took the children to school and came back home and was shocked to see her husband hanging from a ceiling fan. She along with help from locals rushed to the hospital where the doctors declared him already dead.

According to the preliminary information, Srikanth worked as a manager in the Machilipatnam branch for three years before coming to Yanam and has sanctioned loans as per the targets. But the pressure on Srikanth increased as the borrowers failed to repay the loan hence he paid the loan borrowing up to 60 lakhs.

A few days later Srikanth was transferred to Yanam and incurred debts of up to 37 lakhs. As the loans given by the bank have not been recovered, there are suspicions that the pressure has increased from the superiors, which led Srikanth to take the final plunge.