Kottayam: DYFI central secretariat member Jaick C. Thomas on Tuesday said that the new generation banks are trying to squeeze the last penny out of commoners by levying unreasonable interest rates. 

Speaking during a protest observed by DYFI over the suicide of a trader in Aymanam, the young CPM leader stated that the trader committed suicide due to a threat from an employee of Karnataka Bank in Kottayam. 
 
 "We are witnessing an extraordinarily tragic situation in which many people are losing their lives in the name of banking apps and so on. Unfortunately, our country's new-generation banks are attempting to squeeze the last penny out of the people by levying massive interest rates. The most recent example is Karnataka Bank,' said Jaick.

He pointed out that DYFI's protest is a warning to new-generation banks like Karnataka Bank. Jaick added that  DYFI would decide whether Karnataka Bank or banks with the same profit-greedy trait will function in Kottayam City or not. 

Earlier, the family of K.C Binu (50), a trader from Aymanam, came forward against Karnataka Bank. The family claimed in their complaint that a bank staffer frequently intimidated Binu for missing two months of loan payments. On the last day, he was found hanging inside the house.