Transport unions seek Raj Thackeray’s intervention

Letter to MNS chief talks about exorbitant interest rates, harassment for loan repayments

Faced with financial constraints due to the lockdown, representatives of 14 transport unions on Tuesday met Maharashtra Navnirman Sena (MNS) chief Raj Thackeray, urging him to talk to the government on their behalf in a bid to get them assistance.

Among their major demands were relief from exorbitant interest rates applied by non-banking financial companies (NBFC) despite guidelines from the Reserve Bank of India (RBI), interest-free moratorium on loan repayment till March 2021, loan restructuring without additional charges, and transfer of car papers to new owners without the presence of original owner in case of missing loan instalments.

In a letter submitted to Mr. Thackeray, the representatives said that a number of illegal methods were being used by financial institutions against those who missed loan instalments.

“Customers are being threatened over phone via agency; goons are being sent to home and office; and vehicles are confiscated illegally on road and they are being sold to third party without consent. These are illegal methods which is in violation of guidelines laid down by the RBI and numerous verdicts from the Supreme Court,” the letter said.

Kirtikumar Shinde, general secretary, MNS, said that they had been raising the issues of the transport sector for the last few months. “The lockdown in view of the COVID-19 pandemic has taken a toll on this sector. Owners of auto, taxi, cab, truck, tempo, and buses are facing financial hardships. At this time, the NBFCs and banks are making it harder for them by harassing for loan repayments,” he said.

Mr. Shinde said that the party had been meeting various NBFCs and banks asking them to follow law and not use might against vehicle owners who were financially destroyed in the lockdown.

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