CM steps in, directs officers to protect people from lenders

CHENNAI: Chief Minister Edappadi K Palaniswami on Wednesday directed the police department and district collectors to protect people from the menace of usury (collection of exorbitant rates of interest for lending money) and appealed to the affected people to approach the police and the district collectors for redressal.

The direction came a couple of days after four of a family committed self-immolation in Tirunelveli. They were protesting inaction by the police and the district administration against a local moneylender who demanded usury.

Recalling the Tamil Nadu Prohibition of Charging Exorbitant Interest Act, 2003, enacted during the tenure of J Jayalalithaa as chief minister 14 years ago to put an end to usury, Palaniswami said the legislation ensured stringent action against those who sought exorbitant interest. Besides, those who received money from lenders could repay it through courts and settle their dues.

The Act also provides for retrieval of movable and immovable assets illegally obtained from the public from moneylenders and to hand them over to the original owners. “The government will take all steps to protect the people from money lenders,” he assured.

The chief minister said he had directed the district level police officials and collectors to take immediate action on the petitions received from the public regarding usury.