Bernard Shaw felt that lending money for interest is second to prostitution.
I have come across certain sects who do not partake food in a money lender's house.
Bankers ,a refined way of calling money lenders,squeeze their clients,by levying high interest.
They charge minimum 10% ,maximum 120%-150%.
The money doubles ,trebles in no time.
In lieu of the loan they take jewellery ,land documents as mortgage,apart from the surety.
The have ,in emergency flock to these lenders.
Sensing the urgency and noting the ignorance of the client, the lenders play the card.
Many have succumbed to this atrocities by committing suicide.
In milieu of all these rude sentiments, there is a slight breather.
A village Ammapatti in South Tamilnadu, India, has put up a board,"The Village has banned Interest on loans".
The inhabitants had experienced tough time by paying enormous amount as interest.
They had paid 100Rs for 1000 Rs on daily basis.
Fifty of the villagers have a formed a center which extends loan to the needy free of interest.
Ammapatti , a small hamlet,has set a precedent.
Its people, know no economics, know no balance sheets, know no banking procedures, Know no processing fee, know no EMI, (equated monthly instalments) -
But they have love for humanity, compassion for the have nots.
This congleration of fifty are not billionaires but from a humble background.
The initial capital is five hundred thousands.
A staff has been appointed.
His duty is to collect the monthly dues from the borrowers.
His salary is taken care of by the fifty sponsors
I cherish this tiny hamlet,because the givers are humble, ( usually it is not so) the takers are happy and in totality the experience is pure and beautiful.
It is an exhilarating adventure.
.Will the World bank take the cue from Ammapatti?
Shall we name it Ammapatti model?
"The child is the father of man"
Modify the saying .
Ammaptti is the father of Divine Economics.
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