A 33-year-old man died by suicide in Puducherry, allegedly due to relentless pressure put by private moneylenders to pay an exorbitant interest of ₹38,000 per month on a loan of ₹3.8 lakhs.
The victim was a local functionary of the Tamilaga Vettri Kazhagam (TVK), a political outfit floated by Tamil actor Vijay.
The deceased, who also worked at a chicken shop to support his family apart from owning a small business, was left paralysed due to an accident. His immobility left him in no condition to work; thus, he was unable to repay the loan.
According to police sources quoted in an NDTV report, the victim named several moneylenders in his suicide note who allegedly drove him to take the extreme step. In one of the instances of harassment mentioned in the suicide note, a moneylender allegedly told the victim to send his wife and daughter to his house until the time he could repay the dues, NDTV reported.
The victim also said in the suicide note that he was being charged ₹38,000 per month as interest for a loan of ₹3.8 lakh. That amounts to a staggering 10 percent monthly interest rate. For another ₹30,000 loan, a moneylender demanded ₹6,000 in interest every month, according to the suicide note.
{{/usCountry}}The victim also said in the suicide note that he was being charged ₹38,000 per month as interest for a loan of ₹3.8 lakh. That amounts to a staggering 10 percent monthly interest rate. For another ₹30,000 loan, a moneylender demanded ₹6,000 in interest every month, according to the suicide note.
{{/usCountry}}The moneylenders increased their harassment after the victim became paralysed and bedridden due to the accident.
He made a heart-wrenching appeal to the actor Vijay to look after his wife and daughter in his suicide note. The appeal to the actor, whose political outfit the victim was a functionary of, underscores the depth of his helplessness.
Police launches investigation into Puducherry man’s suicide
The police have launched an investigation into the allegations made by the victim in the suicide note and are verifying the identities and activities of the named moneylenders. So far, nobody has been arrested.
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 the death has triggered widespread outrage in the union territory and on social media. There is an outcry for immediate action to curb illegal money lending and provide justice to the victim's family.
Discussing suicides can be triggering for some. However, suicides are preventable. A few major suicide prevention helpline numbers in India are 011-23389090 from Sumaitri (Delhi-based) and 044-24640050 from Sneha Foundation (Chennai-based).