The auto drivers, who protested in front of the BSNL office near the Collectorate in the city complained that goons were engaged to seize the autos on defaulting of loan payments, which should be stopped.
Coimbatore: A protest was held in front of the BSNL office near the Coimbatore district collectorate under aegis of CITU Auto Drivers' Association.
District President Selvam led the demonstration and more than 100 auto drivers participated. The protesters alleged that private banks and financial institutions were charging exorbitant interest rates.
Whie arguing that EMI amount should not be collected during covid times as per the central government guidelines, they said that the interest rates should be waived for at least four months out of eight months of covid phase.
Private banks and credit institutions have been insisting on paying the dues for 47 months to 64 months. The 13.5% interest is hiked to to 24.24%. If one fail to pay the loan amount, goon were engaged and obscene wors hurled at them. Bulling and seizing of autos have becmome rampant by the private financial institutions the protesting auto drivers said.
The protesting auto driver appealed to the government to take immediate steps to save the livelihood of auto drivers so that they do not have to face hardship.
Slogans were raised condemning private banks and financial institutions on the occassion.