‘Business’ of private moneylenders goes unchecked

SADIQABAD-The government employees protested against the private moneylenders for ‘forcibly’ increasing the payable amount of loans under the head of usury.

Talking to media, they said that some influential traders in the tehsil have been running the business of lending money to the government employees. They said it was several years ago when they got loans from the moneylenders after being forced by the worst financial circumstances. “Since then, we have been repaying the loan in shape of monthly instalments but the moneylenders have increased the payable amount manifold under the head of usury,” they alleged. They regretted that they have been bound to paying off indefinite number of instalments, adding they have paid more than actual amount of loan only under the head of usury, the principal amount exists still. They alleged the moneylenders also tortured them if they fail to pay off an instalment. “They also keep our cheque books in name of security and withdraw or salary from banks,” they added.

They demanded the government to look into the matter and get them rid of the usurers who have been extorting money from them and have denied their right to living.

 

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