Madurai

‘35 lakh people forced to pay ₹12,000 interest on jewel loans’

Leader of the Opposition Edappadi K. Palaniswami addresses AIADMK cadres in Sivakasi on Monday.

Leader of the Opposition Edappadi K. Palaniswami addresses AIADMK cadres in Sivakasi on Monday.

Around 35 lakh people who had pledged their gold jewels in cooperative banks believing in the loan waiver poll promise of Dravida Munnetra Kazhagam were now forced to pay a minimum of ₹ 12,000 interest due to several new conditions laid down under the scheme by DMK Government, said Leader of the Opposition, Edappadi K. Palaniswami.

He was addressing All India Anna Dravida Munnetra Kazhagam candidates for the election to urban local bodies in Virudhunagar district here on Monday.

“The DMK had promised to waive of loan amount for the jewel loans up to 5 sovereigns pledged with the Cooperative banks.Believing in the alluring scheme of the DMK, people had pledged their jewels, taken loans and spent the money,” the joint coordinator of the party said.

A total of 48 lakh people had taken the loan from the cooperative banks believing in the poll promise of the DMK.

However, after coming to power, the DMK Government has laid down several conditions for the loan waiver scheme under which only 13 lakh people are now eligible.

“A total of 35 lakh people have been now affected (by the scheme).Now, they have to pay a minimum of ₹ 12,000 as interest for five sovereigns of gold pledged, if they want to retrieve them” Mr. Palaniswami said.

The 35 lakh people have been punished with the burden of ₹ 12,000 interest for having voted for the DMK and making its president M.K. Stalin the Chief Minister, he said.

The DMK that has failed to give ₹ 100 subsidy on cooking gas cylinders, scrap NEET immediately upon coming to power, and also did not give any cash to help people celebrate Pongal.

“While the DMK Government promised to distribute 21 items in the Pongal gift hamper, only 15 to 17 items, that too, of inferior quality and of less quantity were distributed,” Mr. Palaniswami said.

Besides, he charged that the DMK Government was attempting to weaken the AIADMK by foisting cases against its leaders.But, the AIADMK has the power to overcome such challenges right from the days of M.G. Ramachandran and Jayalalithaa, he said.


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Printable version | Jun 29, 2022 12:33:00 am | https://www.thehindu.com/news/cities/Madurai/35-lakh-people-forced-to-pay-12000-interest-on-jewel-loans/article38392699.ece