Minister for Law and Parliamentary Affairs, T.B. Jayachandra said that exorbitant rate of interests charged by private money lenders is the main cause driving farmers to commit suicide.
After inaugurating “Journalism Day” here on Sunday, Mr. Jayachandra said that private money lenders are charging interest 10 to 15 per cent per month which is called ‘meter baddi’.
He said that he has already discussed with Chief Minister Siddaramaiah about bringing legislation to control private money lenders from charging exorbitant interest rates.
He also blamed the media for not ascertaining the truth in reporting farmers’ suicide deaths. The media does not verify the deaths of individuals to ascertain they are farmers or not and simply write that it is the death of farmers.
