Moneylenders take advantage of people’s vulnerability, thus holding them back from getting legal support
Coimbatore: The economy was hugely affected during the pandemic and most families lost their livelihood. This led people to obtain loans from money lenders for high percentage interests and usury was high. Commissioner Deepak Damor has issued a warning to the money lenders in Coimbatore that strict actions will be taken if they impose usury, meter interests.
Moreover, people who obtain loans are ill-treated and abused verbally by most money lenders. Fear of insult has put a hold on those who have obtained loans from these money lenders from getting legal support. Moneylenders take this vulnerability for granted and seize properties from people in exchange for loan repayment.
District Commissioner Deepak Damor stated that 'Those who are vulnerable to usury shall approach police departmentand those who are unable to come shall report through the number8190000100 and 9498181213 -Coimbatore city police,'
Moreover, people who obtain loans are ill-treated and abused verbally by most money lenders. Fear of insult has put a hold on those who have obtained loans from these money lenders from getting legal support. Moneylenders take this vulnerability for granted and seize properties from people in exchange for loan repayment.
District Commissioner Deepak Damor stated that 'Those who are vulnerable to usury shall approach police departmentand those who are unable to come shall report through the number8190000100 and 9498181213 -Coimbatore city police,'