Kerala Kaumudi Online
Wednesday, 01 December 2021 8.22 AM IST

Blade mafia should be reined in!


We have published some examples of looters known as the Blade Mafia ruling the country. When all other avenues are closed, people rely on blade mafia. It will eventually become a big trap. There are many families who are heading towards the Blade Mafia in this way. It often comes to the forefront of society's attention when there is a situation where one is drowning in debt. It is not that there is no law and government system to control usurpers. The shocking truth is that some law enforcers have joined the Blade Mafia in exploitation.

Humans cannot tell when they need money. Most have no bank balance or source of income. Money is often needed for children's marriages, education, work-related needs, and household chores. Banks, co-operatives and private moneylenders are inadequate in the country but there are strict conditions for getting a loan. You cannot get a loan without adequate collateral. This is where the looters rear their ugly heads. They also do not lend money without seeing anything. The usurer will be ready to give the loan only after accepting the house, land, check and signed stamp duty as collateral. Surprising rates are charged in terms of interest. There are those who charge interest for a period of ten days. If the interest installment is defaulted, it will be added to the principal. In less than six months, the debt will more than double.

There are many unfortunates who have to lose even their homes due to non-repayment of loans from moneylenders. Only the details of those who ended their lives by all means come out.
Banks and co-operatives have lots of money with no takers. There provisions for getting loans through Ayalkoottams. Extending this further can reduce the exploitation of blade mafia. If there are more opportunities to get generous loans from financial institutions, there will be no need to look for money lenders. In each village, people can form mutually support groups.

Those who cling to the procedures to give a loan of Rs. That, in the end, will leave you with nothing. All this is done by excluding ordinary people who are honest and sincerely want to repay the debt anyway.

Finance Minister K N Balagopal has said that strict action will be taken to curb blade mafia. Operation Kubera, which was launched years ago under the previous government, can be dusted off again.

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