Chennai: PMK founder Dr. S Ramadoss has urged the State Government to provide Rs 25 lakh as compensation besides a job to the kin of the farmer who had committed suicide, for failing to repay loan to the Bank, near Kattumannarkoil in Cuddalore district on Friday.
He also demanded the government to take appropriate action on the bank for illegal recovery and sugar industry for not re-paying money on time after taking sugarcane from the farmer.Tamilarasan, a farmer committed suicide by consuming pesticide after the recovery agents engaged by a private bank seized his tractor for failing to repay loan received from the bank.
In a statement here on Saturday, Dr. Ramadoss said Tamilarasan received loan from the private bank two years ago and purchased a tractor.
He agreed to repay the interest and loan in eight installments with each of Rs 90,000 and paid only Rs 50,000 last month and assured that he would repay the rest as soon as he gets money from the sugar industry for selling his sugarcane. said the banks and financial institutions never bothered to follow Supreme Court and High Court verdict delivered in its various cases.
As per law, a purchased vehicle should not be seized, if they did not repaid the loan in time. They could charge fine or they can collect increased interest.
Dr Ramadoss expected that the government should take action against the private bank and sugar industry with the intention to stop farmers committing suicide.
