(Photo: Governance Now, for representation only) Pitta Rajani, 28, and her family from Kandriga in Vijaywada faced severe difficulties during and after the lockdown last year and had to take a loan of Rs 20,000 from Soubhagya , a moneylender, at an exorbitant monthly interest of Rs 10 per Rs 100. Now Rajani is facing consistent threat from the moneylender in case she fails to pay her monthly interest; she is forced to pay double the interest as penalty – Rs 4,000 instead of Rs 2,000 a month. The moneylender is abusing and threatening Rajani that she’d go to police against her.
Faced with similar economic hardships during the lockdown, Supriya Kar (name changed), 22, from Bongon, North 24 Praganas, West Bengal, took loans totaling Rs 55,000 from various sources: Rs 18,000 from two neighbours, Rs 18,000 @1.2% interest from a self-help group (SHG), Rs 2,000 from a distant family member, Rs 11000 @1.7% interest with her jewellery as collateral from Muthot Finance and another Rs 6,000 with her jewellery as collateral from a local goldsmith.