Financial Daily from THE HINDU group of publications
Wednesday, Feb 04, 2004

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Opinion - Letters

Unnecessary loans

The new generation banks have succeeded in making almost every middle-class family apply for a loan. Personal loans, credit cards, vehicle and housing loans have been thrust on them effectively. Everything is okay till the loans are repaid.

However, the interest rates are exorbitant and there are also hidden charges. It is time that steps are taken against such mindless consumerism.

R. Sajan

Aluva (Kerala)

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