Top

AMARAVATI: Lenders go hi-tech in hitching gullible

Lenders go hi-tech in hitching gullible
x

Lenders go hi-tech in hitching gullible

Highlights

THE call money racket issue had rocked Andhra Pradesh once in 2015. The then opposition YSRCP and ruling TDP traded charges against each other and it had later become an election issue for the opposition

ADVERTISEMENT

AMARAVATI: THE call money racket issue had rocked Andhra Pradesh once in 2015. The then opposition YSRCP and ruling TDP traded charges against each other and it had later become an election issue for the opposition.

Police had registered several cases against moneylenders who were allegedly part of such a process across the state which included that of sexual harassment and politicians across the spectrum were named in the police complaints. Five years down the lane once again a similar problem has surfaced.

This time it is using technology. A few microfinance companies have been offering loans through various apps available on Google play store. It is said that most of them are Chinese apps though operating from Indonesia.

Unable to bear the harassment, some had even committed suicide in Guntur and Prakasam district. Following this, Chief Minister YS Jagan Mohan Reddy on Tuesday directed the officials to take stringent action against the online call money lenders and has announced ex gratia to the two victims who committed suicide.

A compensation of Rs 10 lakh was announced to the family of a 10th class girl (Sowmya), who committed suicide in Korrapadu, Guntur district.

Investigation Department (CID).These two cases were recorded in Guduru and Bandar Taluka police stations where the victims of the finance companies lodged complaints with the police. Online loan app finance companies operating from Delhi, Noida, Gurgram and other North Indian cities are offering personal loans to the customers without taking proof and other documents.

Consequently, many poor people are taking loans by opening the links sent by these microfinance companies. These ompanies are harassing the customers and using abusive language for non repayment of loan in the stipulated time.

The police said these finance companies are taking advantage of the lockdown period and needs of the poor people and have been offering loans without collecting documents. On the other hand, customers are taking loans by downloading the app and giving Aadhaar card and bank account numbers to these companies.

Consequently, these companies are accessing personal details of the customers from their mobile phones and have been using the numbers to damage the reputation of the customers for non-repayment of loans in stipulated time. Suresh, a customer in Vijayawada, said many people had taken loans from these online loan apps and now been facing harassment.

He urged the people to lodge complaints to the nearest police if they receive calls from the microfinance companies offering loans and leave the rest to the police who would take stern action against the culprits.

Show Full Article
Print Article
Next Story
More Stories