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Coimbatore
NGO petitions government to curb usury interest
November 11, 2015
A Coimbatore-based NGO had petitioned the District Collector Archana Patnaik to curb usury interests in the district for the benefit of the poor.
In the petition given to the Collector, M. Selvaraj, the president of the Usury Interest Law Awareness Campaign has said that usury interests have pushed people to commit suicide in and around Coimbatore. He also said that people who borrow money for higher interests are forced to commit suicide as they are unable to return the debts.
He added that poor families are mainly targeted by the usury groups to exploit them. “This is being done as a routine business by many people. The District Administration should immediately intervene and find a permanent solution for the benefit of the poor people,” he said.
