RAJSHAHI, Feb 11: Thousands of people of various upazilas of Rajshahi district have been trapped in the hands of the local money lenders. Many of the borrowers from the money lenders are becoming paupers in repaying their loan with a high interest rate. Some of them were also selling their cattle-heads, fragments of land and even houses they live in to repay their loan amount.
It is further alleged that in case of failure to repay money with interest, money lenders forcibly taken away the goats, cattleheads and even occupying land or removing corrugated sheets from the rooftop of the houses of loanees.
In many villages, such loans are also being disbursed through various organisations formed by local money lenders and influential, well off people. The activities of such organisations are specially extended and widely spread in remote and poverty stricken char villages of Bagha, Paba and Godagari upazilas.
Usually, five to ten people of a village formed the lending organisation and invest millions of taka through the name of the organisation. In a village, there are more than one, even one-dozen of such organisations. As security against the loaned amount, signature of the loanee on the blank cheque or signature on blank stamp is usually taken. The members of the organisation only realise interest of the loan on weekly or monthly instalments. The capital they took as loan is realised whenever a client fully paid their loan amount with interest.
These money lending organisations have no registration either from Bangadesh Bank or from the Department of Social Welfare. Even, most of such organisations have no signboard or office.
Majhpara Unnayan Sangstha at Majhpara village under Bausha union of Bagha upazila is such a money lending organisation. The organisation has no signboard. 10 to 15 youngmen of the village used to disburse loan to the poor villagers at taka 15 percent interest per month. The amount of interest is charged on multiple interest basis.
Sourav of village Hedati took Tk 2,000 loan from the organisation. In one year, he had paid Tk 15,000 with multiple interest, he lamented.
Alamgir Hossain of Digha village of the same union complained, he and many other poor people of the village became pauper by drawing loan from various rural organisations.
Small trader Briton son of Rahmatullah of village Tepukhuria informed, he drew taka 1.40 lakh loan from Hira and Ahsan of Bagha sadar upazila. The interest rate was so high that he had to paid taka two lakh within a year. Finding no way, he had to sell his land and repay the loan last year.
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