23 Booked in Hubballi-Dharwad for High-Interest Lending as Police Intensify Crackdown

Hubballi: The police in the twin cities of Hubballi-Dharwad have intensified their crackdown on illegal money lenders who charge exorbitant interest rates. Recently, the police uncovered a syndicate involved in “meter baddi,” a colloquial term for lending money at excessively high interest rates. As a result, 23 individuals have been booked across 13 different police stations in seven cases.

Speaking to reporters on Sunday, Police Commissioner N. Shashi Kumar stated that the operation was initiated following complaints about “meter baddi.” He urged victims of such illegal lending practices to come forward and report to the police so that the menace could be effectively curbed.

The operation covered multiple police station jurisdictions, including Vidyagiri, Town, Suburban, Bendigeri, Kasabapet, Vidyanagar, Gokul Road, APMC Navanagar, Ashok Nagar, Dharwad Town, Old Hubballi, Kamaripet, and Keshwapur.

These illegal lenders typically provided loans by accepting vehicles and properties as collateral and resorted to threats or coercion to recover the principal and interest. During the crackdown, the police seized a range of items, including letters, bond papers, a car, a Pulsar bike, blank cheques, vehicle documents, a silver chain, and mobile phones.

Commissioner Shashi Kumar issued a stern warning to those involved in the “meter interest” business, urging them to cease their illegal activities immediately or face severe consequences.