In Hyderabad, another incident of loan app harassment was reported, due to which a youth committed suicide.
On the 20th of October, the Hyderabad Police confirmed the incident, saying a youth identified as Nizamuddin ended his life after being harassed by loan recovery agents. Getting into details, Nizamuddin recently bought two mobile phones through EMI. However, Nizamuddin who is facing serious financial problems due to lack of job has not been paying EMIs for some time and was being harassed by the recovery agents.
It is to be noted, Nizamuddin failed to pay only Rs. 4,000, and due to this he took an extreme step and ended his life.
It is to be noted, in Hyderabad, loan apps are being scrutinised for their ways of recovery and being booked for harassing people. The Telangana Rashtra Samithi Government even expressed concerns over the rising number of suicide due to loan app agents’ harassment and directed the concerned officials to take measures.
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