Wednesday, Jan 19, 2022
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Dhadak Kamgar Union's Abhijeet Rane to Wage War Against Credit Card, Loan-Interest Extortionists

With their simplicity of use and handy pay-back options, credit cards have become an integral part of our lives.

Dhadak Kamgar Union's Abhijeet Rane to Wage War Against Credit Card, Loan-Interest Extortionists
Dhadak Kamgar Union's Abhijeet Rane to Wage War Against Credit Card, Loan-Interest Extortionists -

Covid-19 has become a nightmare for the world, as we struggle mentally and financially during these tough times. We all, especially those forced to pay back loans to banks in these difficult times, need someone to protect us from those who extort credit cards, loan-interest instalments. The Founder & General Secretary of Dhadak Kamgar Union, Prominent Labour Leader Abhijeet Rane, has hence come forward to shield the public against these extortionists.

With their simplicity of use and handy pay-back options, credit cards have become an integral part of our lives. A credit card's discounts, incentives, and bargains are unrivalled by any other financial product and promise a jackpot for the intelligent user. On the other hand, credit cards can become debt traps if not handled wisely or if you spend more than you can repay when the bill arrives. The most significant benefit of a credit card is the ease of obtaining credit. Credit cards operate on a deferred payment system, which means you can use your card now and pay for your purchases later. However, there are some negatives to using credit cards, including hefty interest rates. If you do not pay your bills by the due date, the amount is carried forward, and interest is levied. And it can become a massive amount if the interest is not paid on time, resulting in a huge problem for borrowers to repay the loans.

Abhijeet Rane has issued a strong message supporting the public, especially those who need protection from credit cards and loan-interest extortionists in these tough times.

He says in the message, "Your own Dhadak Kamgar Union and Abhijeet Rane Youth Foundation has during the Covid-19 pandemic, and lockdown picked up 36 social issues to bring relief to the hardworking community and labourers of society.

Towards this end, we are now waging war against those who extort credit cards, loan-interest instalments. We strongly want to bring justice to the aggrieved party.

The government and the Reserve Bank have pressed pause on every loan's recovery during this Covid-19 period. But those who are credit card holders and have taken a loan from a bank or credit society are being threatened to repay the credit card and loan-interest instalment these days. It may be noted that the Reserve Bank, along with the Central and State Governments, has given relief for repayment of loans and interest during this period. All loan recovery has been suspended, but many nationalised, private, and cooperative banks and credit societies have hired extortion to spread terror to get the money back forcefully.

Many poor and middle-class workers, labourers, and other people have been financially devastated due to unemployment during the pandemic. Many others have even committed suicide because of starvation. Hence, extortion of credit cards and loan-interest instalments is a crime against humanity.

"If you are one of the victims, who are being threatened to pay back the loans, you can file your complaint with us immediately. We will report it in all four of our newspapers. Suppose you have taken loans from the government. In that case, private, cooperative banks, credit societies, your credit card is outstanding and are being bullied into repaying the loans. We will bring you justice. I will do it," Dhadak Kamgar Union.

Besides being Founder & General Secretary of Dhadak Kamgar Union, Abhijeet Rane also serves as Group Editor, Daily Mumbai Mitra & Daily Vrutt Mitra, Vast Media Group. He always takes the lead in resolving the grievances of the poor labourers, and the war against the credit card and loan-interest extortionists is not just an empty promise. www.dhadakkamgarunion.com

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