Community frustrates taking loans
There
are number of finance institutions which
provide micro credit loans for the poor people in the country. They especially
approach the women in the family and offer loans for them under different
conditions. The finance companies offer loans for various purposes. The poor
community takes loans from the companies
with different bonds. According to the bond
conditions, the installment of the loan should be paid daily, weekly or
monthly. Paying of the installment depends of the condition which is signed
between the finance company and creditor. The micro credit loan has become a
kind of pandemic in the country. There are many social and economic issues
created due to spreading the micro credit finance companies. The people who
have taken micro credit from the privet financial companies have faced huge
problem in paying installment due to the corona. The creditors were unable to
invest the loan and earn any income within the pandemic season. Corona pandemic
created a crisis not only to the Sri Lankan economy but also every country
badly. Economic of the many sectors have been collapsed by the corona pandemic.
People who applied the micro credit have faced difficulties due to the existing
situation. Assessing this economic situation, government decided to give six
months extra period to the creditors to
pay installment but most of finance companies have approached the creditors to
collect installments without following the decision and rules of the government. According to the
experience of the people, finance
companies some time use thugs to pressure the creditors to pay installments.
The finance company has come to collect the installment related to the loans in
Killinochchi. The finance companies have influenced to the creditors in many
ways without following the government
rules. The youth attached to the Killinochchi District Fisheries Solidarity
have stopped the attempt of the finance companies to collect installments. This
incident has been happened by the “Waleipadu” youth group in 10th of
June 2020.
