India
Wayanad survivors set to step up agitation as RBI refuses to ask banks to waive loans – Times of India
A citizens’ collective called “Volunteers of Chooralmala Relief Centre” met RBI officials in Thiruvananthapuram in October to press their demands. However, residents continue to receive messages from banks and calls from NBFC staff urging them to repay.
In their petition, the group asked the RBI to write off home loans, agriculture loans, personal loans, car loans, link/SHG loans and gold loans; return security documents; protect credit scores; and provide interest-free loans to help rebuild agriculture and small businesses. Some banks have shown interest in restructuring the loans, while some have proposed making them interest-free, but a concrete decision is yet to be taken.
Rajesh CK, who used to ferry tourists, said, “Maybe we should intensify our protests now. We have asked the banks to write off the loans, but they want to restructure them. They are not giving us a straight answer, and people continue to receive messages asking for refunds.”
The survivors are also planning to expand their agitation to other parts of the district. Sabita S, Kudumbashree secretary of Attamala ward in Grama Panchayat in Meppadi, said, “The leading bank made people sign application forms for loan moratorium two months ago but we have not heard anything yet. NBFCs are calling to remind people refunds. There are no jobs, no money, and people don’t know how they will pay back. Because of the elections, self-help group work has been suspended.”
Many survivors are also not receiving the promised Rs 300 assistance from the government.
“There is an even larger group of people working there. We will discuss with them and decide on the next steps,” she added. Now, the citizen collective is facing a crisis of its own as people have approached various political parties for support to boost their demand for loan waivers.
