THE JHARKHAND STORY NETWORK
Daltonganj, Sept 8: Money lenders are scared of the Jan Shikayat Samadhan Karyakaram (JSSK) going to be held pan Jharkhand on September 10.
They are scared that borrowers would tell police about the rate of interest, excess receipt of cash and failure of bank cheques etc. leading to cheque bouncing.
Palamu is hot spot for underbelly loaning
Palamu is a hot spot for underbelly loaning or lending sometimes as high as 10 per cent to 12 per cent per month rate of interest.
Money lenders do a brisk business. They lend money after obtaining a blank cheque from the borrower.
Private Money Lending Prohibition Act 2016
The state of Jharkhand has a private money lending prohibition act 2016 which reads that no person shall carry on the business of money lending whether in cash or kind on unsufructuary mortgage of property or on pledge of gold, ornaments and any other articles.
A usufructuary mortgage is a type of mortgage where a borrower transfers his property to the lender who is called the mortgagee.
Also Read: CCL library in Ramgarh school proves to be a gamechanger
However, there is a well-knit network of money lenders who surreptitiously carry on the money lending business.
The JSSK offers an excellent opportunity to a borrower who has paid the interest amount more than the principal loan amount but the lender continues to harass and extract money all in the name of the money borrowed.
For such a harassed borrower the JSSK if approached properly can rob the peace of the lender.
Raw business of money lending
Much like the prohibition act is here, the raw business of money lending at a higher rate of interest is rampant here in Palamu.
Some residents told this correspondent on the phone “We hope JSSK will entertain the complaint about cash on Ludo game which is making many poorer and poorer.”
“Alone in Daltonganj and Shahpur there are people who had to sell off the property following huge losses in the Ludo game,” said sources.
However, it is made public that an individual’s addiction to such games is a personal choice where police have virtually no role at all.
Further, such games carry first a statutory warning to participants reminding them the game involves financial risk so a participant should play at his own risk.
The JSSK has now become a household name.
Jharkhand is a late introducer of Jan Shikayat Samadhan Karyakaram as its adjoining state Uttar Pradesh has already done it under the name Jan Shikayat Nivaran Karyakaram.
Jharkhand police and its top cop DGP Anurag Gupta deserve kudos for introducing it albeit other states just have had it already.
