Ban online loan sites, PMK tells TN, Centre after man's death

CHENNAI: Citing the suicide of a youth in Choolaimedu due to non-repayment of loan obtained in an online loan site, PMK Founder S Ramadoss on Tuesday urged the State and the Union governments to ban online sites providing loans.

"Online loan sites like online gaming websites have started taking away the lives of people. When people fail to repay the loan on time the loan sites charge exorbitant interests and harass them. Apart from that, the loan companies morph the pictures of the women in their families and share them in social media which abet them to commit suicide," said Ramadoss, in a series of tweets.

Pandian (29), from Choolaimedu, committed suicide after he could not repay the loan obtained from a mobile app. Ramadoss said that though RBI advises the public not to obtain loans from such online sites and even police alert the people the websites and apps are not banned by the governments. "The identity of the persons operating these online websites providing loans and apps are unknown and as they are not banned they have started mushrooming. Both the State and the Union governments should take immediate steps to ban online sites providing loans," he added.