Unable to Repay Loan, Farmer Commits Suicide

Published: 17th April 2016 06:27 AM  |   Last Updated: 17th April 2016 06:27 AM   |  A+A-

COIMBATORE: A 65-year-old farmer from Veppampallampudur near Vadavalli, consumed poison on Thursday and succumbed to its effects on Saturday at a hospital. He was upset over his inability to repay a loan, he had availed to construct a greenhouse, to a bank.

Ramasamy had obtained a loan of Rs 60 lakh. He owned six acres of land, of which two acres were under cultivation. In 2014, he had obtained a loan from a bank in Saravanampatti as he had wanted to build a greenhouse on a portion of the land and grow crops. His family members told Express that he had been promised a government subsidy of 50 percent for the loan. His son R Aravind Kumar (35) said that Ramasamy had also borrowed Rs 5 lakh in cash from his friends and relatives.

Unabl.JPGHowever, the prices of the crops he had cultivated fell sharply by around 40 percent, in comparison to the prices that prevailed, before establishing the greenhouse. Hence, he had further borrowed Rs 6.5 lakh at exorbitant interest rates by pledging jewels belonging to family members in order to repay the bank.

As he had failed to repay the remaining amount, bank officials had visited the house and had urged Ramasamy to pay Rs 9 lakh immediately. On Thursday, Ramasamy was out farming and did not return home in the afternoon. He was found unconscious and rushed to a private hospital. He died on Saturday. The body was taken to the Mettupalayam Government Hospital.

The district police registered a case. Police sources said that the bank authorities had not harassed the farmer and that the man had probably committed suicide due to depression over his inability to repay the loan.

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