Door-to-door and village-to-village surveys carried out by researchers of the Department of Economics and Sociology, Punjab Agricultural University, Ludhiana detected a total of 9,291 suicides that were committed by farmers in six districts of Punjab during the period from 2000 to 2018. Situated in the Malwa region of Punjab, which is known for cotton farming and the prevalence of cancer among its population, Sangrur (2,506) witnessed the highest number of...
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How Suburban, Rural Youth are Being Sucked Into Instant Loan Apps ‘Trap’ -Sashwata Saha
-Newsclick.in Harassment by loan recovery agents hired by these apps has led to at least 21 suicides across India between 2020 and 2021. Meghna Patel took her first loan early in 2020 from an app called FlyCash, whose ads she had been seeing on Facebook. It was a small amount. Just Rs 500. She had to repay Rs 550, two weeks later. The app even had a borrowing limit of Rs 1,000. Recently,...
More »Chinese loan apps misuse KYC details of Indians to set up fake bank accounts -Mithun MK
-TheNewsMinute.com There have been cases of people saying that their KYC details, which were shared with the Chinese loan apps, were used to open bank and crypto exchange accounts in their names, without consent. Shonali*, a 48-year-old lecturer from West Bengal was laid off from a private university in March 2020. The lecturer, facing financial stress, turned to Chinese-owned instant loan applications that provide microloans without collateral, but at high-interest rates. Shonali...
More »Khori Demolitions: We Are Being Targeted as We Are Poor, Allege Residents -Sumedha Pal
-Newsclick.in The Supreme Court has refused to stay the demolitions of over 10,000 houses in a bid to preserve the forest cover in the locality in Haryana’s Faridabad. On June 7, a bench of the Supreme Court, while hearing a petition on the clearance of encroachment over the Aravalli zone, had ordered the removal of close to 10,000 homes, housing over 1 lakh people in Haryana’s Khori Gaon, near the national capital....
More »Beware of illegal digital lending apps: RBI
-The Hindu Advisory in the backdrop of suicides in Telangana Hyderabad: The Reserve Bank of India has advised public to be wary of unauthorised digital lending platforms and mobile apps. Taking note of reports about individuals and small businesses falling prey to a growing number of unauthorised digital lending platforms/mobile apps, the central bank on Wednesday said “members of public are cautioned not to fall prey to such unscrupulous activities.” It urged them...
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