Mutuo caveo: Borrower beware
Hundreds of years ago moneylenders used to send “lathials” to collect their dues from poor farmers. The borrower put up with a lot of insult starting from expletives, physical torture and finally ended with the farmer’s cattle or crop finding their way out of his home.
Centuries down the line, the borrower’s situation hasn’t changed much!
“Own that new vehicle you have constantly desired, with a small help from us.”
“Our interest rates would surprise you.”
“Worried about paperwork? Calm down.”
Funny how the catchy advertisements by banks don’t mention a word about the rogues that arrive at your doorstep when you fail to pay up an EMI!
Welcome to the world of loans where borrowing can be a handicap, literally, if you were go by the events that have unfolded recently.
What has attracted more attention is not the quantum of compensation ordered recently by The Delhi State Consumer Commission, but the sheer brutality of the violence on an innocent person who was in no way connected to the loan doled out by the errant bank.
More