The couple, who operated a hosiery business, allegedly faced relentless harassment from IDFC-First Bank officials.
In a tragic incident in Ludhiana, Punjab, a hosiery trader named Jasbir Singh, aged 59-60, and his wife Kuldeep Kaur, aged 58-59, died by suicide on June 26, 2025, after consuming poison (sulphas tablets) at their shop, “Panchratan Fashion,” in Gandhi Nagar Market.
The couple, who operated a hosiery business, allegedly faced relentless harassment from IDFC-First Bank officials over a delayed loan repayment.
They had taken a loan against property (LAP) of approximately Rs 2.35-2.38 crore and had repaid over 55 installments, amounting to more than Rs 1 crore.
However, a single delayed EMI due to financial difficulties reportedly led to intense pressure, including over 200 daily calls, threats, and visits from recovery agents, causing significant mental distress.
The couple left a video message and a suicide note accusing bank officials, including branch manager Naresh Sharma and two unidentified employees, of harassment and humiliation. Jasbir Singh, an Amritdhari Sikh, expressed in the video, “With immense grief in our hearts, we are leaving this world today,” citing the unbearable pressure from the bank.
Their son, Gagandeep, found them unconscious in the shop on Thursday morning and reported the harassment to the police.
The Ludhiana police registered an FIR at Division Number 4 police station under sections 351(2) (criminal intimidation), 108 (abetment to suicide), and 3(5) (criminal conspiracy) of the Bharatiya Nyaya Sanhita (BNS) against the bank manager and two colleagues.
The bodies were sent for post-mortem examination, and the investigation is ongoing to ascertain the full circumstances.
This incident has sparked outrage among local traders and human rights groups, who are demanding stricter regulations on loan recovery practices.