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Microloan App Takes Another Life in Amberpet
In yet another unfortunate incident involving online microloan apps, harassment by online loan sharks has claimed a youth's life in Amberpet.
G
Guru Prasad
Hyderabad
Mon Feb 14 2022
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In yet another unfortunate incident involving online microloan apps, harassment by online loan sharks has claimed a youth's life in Amberpet. M Naresh, aged 28, was working as a security guard for a private agency. He hanged himself at his home due to harassment, said police.


Naresh was addicted to online gaming, due to which he slipped into a financial crisis. He availed of loans from the instant microloan apps to overcome the crisis. As repayment, however, was delayed, he was allegedly harassed, forcing him to commit suicide.


A case has been registered at the Amberpet police station based on a complaint from his family members. The cops said that they were verifying his bank accounts and mobile phone to ascertain the loan details and the real cause behind the suicide.


Since 2020, harassment from these loan sharks has claimed more than ten lives in different parts of Telangana. Allegedly they have been using intimidating tricks to recover the loans.


According to the Amberpet police, Naresh, a resident of DD Colony, has been into online gaming for a long period. While he was looking for methods to come out of the crisis, he found an advertisement offering instant loans. He approached the organizers immediately and took a loan. However, the organizers started harassing him as he delayed repayment. Unable to bear the shame, on Friday, he took his life.


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Microloan App Takes Another Life in Amberpet
Microloan App Takes Another Life in Amberpet
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