After being pressurized and hounded by ICICI Bank’s loan recovery agents for not being capable of paying the instalments on his Rs 50,000 loan, Prakash Sarvankar, a resident of Andheri (East) committed suicide 10 days ago.

ICICI Bank has decided to pay his wife Priyanka Rs 15.50 lakh as compensation.

In his suicide note, Prakash had blamed the recovery agents for his death. He had been unemployed for the last six months.

On Thursday, Priyanka got a letter from the bank expressing that she would receive a fixed deposit of Rs 10 lakh at 9.5 per cent interest for 59 months. There was also an Rs 25 lakh life insurance policy in addition to Rs 4 lakh medical coverage for Priyanka. Her daughters got Rs 3 lakh each as medical coverage.

An ICICI official stated, “This is a gesture on our part to the deceased’s family. Investigations will reveal where the lapse was.”