CORPORATES ARE WOOED BY BANKS SIDELINING URBAN POOR
Gyan Pathak
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2020-10-17 10:15
When a shylock comes to rescue a person in trouble, his main motif is not to help but to derive as much benefit as he can from lending. Similar is the case prevailing in Modi Raj under which even government is charging exorbitant interest rate of 24 per cent from street vendors who are in deep trouble due to COVID-19 lockdowns. It may surprise many, especially one who remembers the Prime Minister’s ‘pakodawala’ remark on employment. He had emphasized in January 2018, when unemployment had risen 45 years high, that even selling ‘pakoda’ was a job. However, even pakodawala lost his job with the beginning of lockdown from March 25, 2020. Economy came to a grinding halt, roads were deserted, and pakoda selling completely stopped along with all kinds of street vending.