Money lender arrested for abetment to suicide in Tumakuru district of Karnataka

Gubbi police in Tumakuru, Karnataka apprehend 39-year-old Nagaraju alias Baddi Naga for abetment to suicide.32-year-old Basavaraju, who had borrowed money from Nagaraju, died by suicide on September 5.

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The Gubbi police in Tumakuru district, Karnataka, have arrested a 39-year-old carpenter-turned-money lender, Nagaraju alias Baddi Naga, for abetment to suicide following the tragic death of a local bakery owner, Basavaraju, on September 5, 2024. Basavaraju, aged 32, had borrowed money from Nagaraju to support his bakery business, a decision that ultimately led to dire consequences.

The circumstances surrounding Basavaraju's death have raised serious concerns about the practices of money lending in the region. It was reported that Basavaraju had provided a blank cheque belonging to a friend as collateral for the loan he took from Nagaraju. This arrangement, common among borrowers in financial distress, has been scrutinized as it often leads to exploitative situations.

Following Basavaraju's death, which is suspected to be a suicide, authorities began investigating the nature of his financial dealings with Nagaraju. The police have indicated that the pressure from money lenders, particularly those operating outside the legal framework, can lead to severe emotional and psychological distress for borrowers. This incident highlights the broader issue of illegal money lending practices in Karnataka, where borrowers often find themselves trapped in a cycle of debt due to exorbitant interest rates and aggressive recovery tactics employed by lenders.

Nagaraju's arrest is part of a growing crackdown on illegal money lending in the state. The police are keen to address the alarming trend of suicides linked to financial distress caused by predatory lending practices. The case has drawn attention to the need for stricter regulations and enforcement against illegal money lending, which often targets vulnerable individuals who have limited access to formal banking services.

As the investigation continues, the police are expected to gather more evidence regarding Nagaraju's lending practices and his relationship with Basavaraju. Community leaders and activists are calling for reforms to protect borrowers from exploitation and to provide support for those facing financial difficulties. The tragic death of Basavaraju serves as a stark reminder of the potential consequences of unchecked money lending practices and the urgent need for systemic changes in how financial services are provided to the most vulnerable populations.