Loan app operators harrassed a youth, committed suicide

An undergraduate student allegedly committed suicide as a result of harassment from mobile loan application providers. The deceased has been identified as Sivaratri Siva. The tragedy happened in the Palnadu district’s Narayanapuram village.

The 21-year-old’s parents said that their son went to extreme lengths after being pressured by loan app operators to pay Rs 20,000 to settle a Rs 8,000 debt. The reports said that police had not yet confirmed the operators of the loan apps’ involvement in the case.

The Dachepalli police station lodged the complaint. According to the authorities, Siva was having trouble paying back the money that he had borrowed from various villagers. The purpose of the student’s borrowing remains a mystery to the investigation team.

According to the authorities, Siva killed himself out of fear that his creditors would humiliate him for not paying off the debts. The incident was reported barely one day after a couple in Rajamahendravaram allegedly committed suicide as a result of harassment from mobile loan operators.

The couple, Durgarao and Ramya Lakshmi  had borrowed money from various loan applications, according to a report. The loan agents began threatening them, warning that they would post their indecent images on social media, as they were unable to pay back the money on time.

YS Jagan Mohan Reddy, the chief minister, ordered officials to take action against lending apps that were functioning in violation of Reserve Bank of India regulations as a result of the occurrence.