Hyderabad: Hundreds of vendors and hawkers who put up stalls at Charminar, Madina Market, Pathargatti, Puranapul, and other marketplaces in the city for Ramzan are still dependent on loan sharks.
People who do odd jobs for the rest of the year set up kiosks during Ramzan. They have to pay 30 per cent and more as monthly interest to illegal money lenders, leaving them with very little money at the end of the month.
Despite the State Minorities Finance Corporation introducing subsidised loans, many hawkers still do not get financial help due to the temporary nature of their business.
Mr Muhammed Irfan, 49, who does petty jobs for 11 months, becomes a fruit vendor in Ramzan. But he has to depend on private moneylenders. “Last year, I was left with no money in the first two weeks because of the daily interest I had to pay. It was only on a few days that I could earn something,” said Mr Irfan, who has again borrowed from a financier.
In the event of sudden rains, the vendors suffer a lot as they have to buy tarpaulin sheets for their carts, and there are fewer buyers in the market.
Most loan sharks in the Old City have criminal backgrounds. The vendors have to face violence if they fail to pay interest. Police says that since victims are reluctant to complain, it becomes difficult for the police. “If anyone is facing a threat, he should approach us,” said a senior police official from South Zone.
