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Due to some technical issue, the October issue (Vol. 3, Issue 2) is to be published either in the last week of November or the first week of December, 2022. Inconvenience is regretted.

LAWS ARE THERE WHICH TORTURE THE POOR - K. V. Dominic (India)

 


LAWS ARE THERE WHICH TORTURE THE POOR

-         K. V. Dominic (India)

 

Loans worth Rs 76,600 crore of 220 defaulters

More than Rs. 100 crore each

State Bank of India has written off.

Rs 37,700 crore of 33 borrowers

with loans each of Rs 500 crore and more unrecoverable.

Loans worth Rs 27,024 crore of 94 borrowers

More than Rs. 100 crore each

Punjab National Bank has waived*

 

Whereas petty loans of one lakh or more

borrowed by poor farmers pledging their

only house and very little plot

seize by banks shutting them out

in the name of SARFAESI Act.

 

Unlike deliberate defaulters

whose millions and billions are waived

cruel fate made poor farmers defaulters--

drought, flood, illness and loss of income.

 

Laws are there which torture the poor

but save the culprits.

 

 

 

 

*Based on the report of National Herald on 10 October 2019. https://www.nationalheraldindia.com/business/who-are-the-220-defaulters-whose-indian-rupee76600-cr-loans-have-been-written-off-by-sbi

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