Bankers protest at Kavuri’s office to repay 1000 Cr loan

kavuriBanking personnel from 18 banks staged demonstration in front of Congress Ex- MP Kavuri Sambasiva Rao’s office premises holding placards “Please Pay our Bank Dues” in Hyderabad.

Kavuri’s Progressive construction company has reportedly borrowed Rs 1000 crores from the banks is yet to repay the arrears.

Banks have already issued notices to Kavuri’s firm, but the company did not reply to the notices. Bankers demanded Kavuri to clear the dues and prevent the banks from bankruptcy.

Reports say, Kavuri reportedly own around 4000 cr laons from other financial institutions, private banks and nationalised banks.