The State Secretary of CPI K. Ramakrishn on Wednesday (June 18) called on the main Minister N. Chandrababa Naida to introduce strict legislation to criminalize the forced acquisition of the loan and propose measures similar to those that recently accepted Tamil Nadu.
In the letter Mr. Ramakrishn pointed out the abuse of debtors in the hands of private financial companies, applications for online loans and money for money. He noted extensive reports of harassment, threats, seizures of assets and other illegal practices focused on debtors under financial stress.
He quoted alarming incidents, including large -scale loans on calls that were previously uncovered in Vijayawada and a recent case near Kuppam, where a woman was allegedly tied to a tree and attacked by money requiring her husband’s fees. He said that this disturbing development requires an urgent action.
The CPI leader urged the government to encounter a loan law on the basis of the Loan Act. The Tamil Nadu Assembly recently passed a bill that caused a forced loan to revive by an offense, a criminal punishment of up to five years in prison.
The bill Tamil Nadu requires creditors who are not imprisoned if the debtor commits suicide for coercion. “Private finance clothing and monetary towers use coercive tactics that violates fundamental human rights and rule of law,” Ramakrishna said. “We need similar legal guarantees in Andhra Pradesh to protect vulnerable citizens,” he added.
Published – June 18, 2025 17:35
