Home » Manipur Maoists bans private banks from snatching people’s homes

Manipur Maoists bans private banks from snatching people’s homes

by Huirem Naresh
0 comment 1 minutes read

IT News
Imphal, June 26,

Armed rebel group Maoists Communist Party Manipur has declared ban of private banks and microfinance firms from snatching people’s homes.A statement by the Mnipur Maoists said that, private banks and microfinance firms now take heavy interest rates for money people borrow from them. Later in the name of recovering money which people have borrowed and the interest, they even snatched people’s homes. This cruel practice has become a norm, according to the Maoists, as it has been going on for a long time. The practices of snatching land and paddy fields entirely from people by these private firms must be stopped immediately. Instead, both the parties should come to an agreement and land and paddy field equivalent to the sum borrowed and interest due to the firms must only be exchanged while settling. The outfit threatens the firms and banks with dire consequences if they advantage of people taking their entire land and paddy fields as they cannot pay the interest and the sum back. People should join hands with the Maoists in this matter. Moreover, the party stated that houses and lands where people are livings should not be taken away from them. The banks should never give loans with lands where people are currently living as guarantee. It should only take as security lands where people are not currently residing, shops or vehicles. Manipur Maoists who are waging a revolution for a communist society taking forward the flame ignited by Lamyanba Irabot bans the private banks and firms from taking away people’s homes in the name of recovering loans immediately.

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Imphal Times is a daily English newspaper published in Imphal and is registered with Registrar of the Newspapers for India with Regd. No MANENG/2013/51092


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