Hyderabad, December 01: The evil of interest on loans has become like a career which has affected the lives of some people. Most of the auto drivers borrow money on huge interest rates from non-Muslim financiers. Any Muslim auto driver collects 20-30 thousand rupees and approaches the money lenders for the remaining amount for the purchase of an autorickshaw.
Financer charges Rs. 3000 for document completion. The financier keeps the original registration book and gives auto to the driver. The rate of interest is higher. The driver’s worries start. He is the bread earner for the entire family. He has to repay the interest amount to the financier.
He has to repay the interest amount to the financier. Sometimes he fails to repay the interest in case of default, the financiers snatches the auto.
There is a need to form an association or an organization which could provide interest free loans to these Muslim auto drivers.
——–Siasat News