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- Engineering Student Hangs Self Over Harassment By Chinese Loan App Agents
BangaloreA minute ago
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Tejas commits suicide after falling in the trap of Chinese loan app. (file photo)
Troubled by the agent of the Chinese loan app, a 22-year-old student committed suicide by hanging himself. The deceased has been identified as Tejas, who lived in Jalahalli, Bengaluru. He was studying engineering at Nitte Meenakshi College, Yelahanka.
The relatives of the deceased said that Tejas had taken a loan from a Chinese app named ‘Slice and Installment’, but he was unable to return the money. The relatives alleged that the agents of the loan app were threatening Tejas by coming to the house. According to media reports, the agencies were threatening Tejas to make his pictures viral.
Tejan wrote in the death note – forgive me parents
Tejan wrote in the death note, ‘Mother and father, I’m sorry for what I did. I don’t have any other option. I am unable to pay the loan taken in my name and this is my final decision… Bye.’
Father had asked for more time to repay the loan
Three days before Tejas’s suicide, the deceased’s father sought more time to repay the entire loan amount. Even after this, the agents of the loan app were continuously threatening.
On Tuesday evening, App agents made several calls to Tejas. After this, Tejas committed suicide by hanging himself in his house.
Loan apps business flourishing in India since Corona
- After the Corona epidemic in the country in 2020, the poor economic condition of the people helped these Chinese loan disbursing companies a lot to grow their business. A small amount is transferred to the user’s account as soon as these loan apps are downloaded, but the interest rate of this loan is very high. Sometimes as high as 200% to 500% interest rate is charged.
- People take loans from these apps in the greed of getting instant loans without documents and verification. This is where the game of blackmailing and torture begins. Even after the borrower has returned the loan money, these companies start blackmailing that person in the name of giving more money. Threatening calls are made to him and his family members.
- These apps, which have collected the complete details of the user, blackmail the borrower by sending morphed and pornographic pictures to his family. In such a situation, the person is forced to give them many times more money than the loan amount.
- Many times these apps disturb people so much that like Tejas people even commit suicide, but the business of these apps goes on because they find a new victim.
How Chinese loan apps work
- A person installs these loan giving apps in the greed of getting instant loan.
- At the time of downloading, these apps ask the user for permission to access their gallery, contacts, location, etc., which are often given by the user.
- Many times these apps install third party apps or malware in the user’s phone without his knowledge and through this steal the personal information of the user. This information is used to blackmail him.
- They do not even give full money in the name of loan immediately, but only 60-70% are transferred to the user’s account.
- Suppose someone takes a loan of Rs 6,000, then only Rs 3,700-3,800 will be given to him, the remaining Rs 2,200-2,300 is deducted in the name of service and other charges.
- Now the borrower has to return Rs 6,000 along with interest. The interest rate of these apps is so high that many times the loan amount reaches up to Rs 40-50 thousand within a week.
- Then begins the game of blackmailing and exploitation with the borrower, which continues till the money is extorted from him manifold. The specialty of these apps is that they give only small loans of 2 thousand to 5-7 thousand rupees.
