Puducherry Man Made To Pay Rs 38,000 Interest Per Month For Rs 3.8 Lakh Loan, Dies By Suicide

In a case of alleged usury and harassment, a 33-year-old small entrepreneur, Vikram, died by suicide in Puducherry, after he was unable to cope with relentless pressure from private moneylenders charging exorbitant interest. Vikram, who also worked at a chicken shop to support his family, had become immobile after an accident-leaving him unable to repay loans.

According to police sources, Vikram left a suicide note naming several moneylenders who, he said, drove him to take the extreme step. The letter mentions shocking instances of harassment and alleged exploitation, including a deeply offensive demand by one moneylender, who allegedly told Vikram to send his wife and daughter to his house until the dues were cleared.

In the note, Vikram reportedly wrote that for a loan of Rs 3.8 lakh, he was paying Rs 38,000 per month as interest, a staggering 10% monthly interest rate. Another moneylender, he alleged, demanded Rs 6,000 in interest every month for a Rs 30,000 loan.

The harassment reportedly intensified after Vikram became bedridden following the accident, pushing him and his family into a spiral of debt, fear, and desperation.

Vikram was a local functionary of Tamilaga Vettri Kazhagam (TVK), the political outfit recently launched by actor Vijay. In his note, he made a heart-wrenching appeal to the actor to look after his wife and daughter, underscoring the depth of his helplessness.

Police have launched an investigation into the allegations and are verifying the identities and activities of the named moneylenders. No arrests have been made so far.

The case has reignited concerns over unchecked usury in parts of Tamil Nadu and Puducherry, where informal lending networks often operate beyond legal limits, especially targeting small entrepreneurs and vulnerable families.

Authorities have promised a thorough probe, and Vikram's death has triggered widespread outrage on social media, with many calling for immediate action to curb illegal moneylending and provide justice to the victim's family.