Kannamkode (Kerala): Menace created by online loan apps have become increasingly prevalent, affecting the life of netizens, especially college-goers. In one such case, a youth here fell prey to an online loan trap and eventually died by suicide on May 25, not being able to succumb to the mounting pressures of the company.
M Vamsi, a final-year student at a engineering college near Vijayawada died by suicide after jumping into the Krishna River on Saturday after he was unable to pay the excessive interest payments as demanded by the app operators.
Born to a middle-class family with his father working as a daily wage worker, Vamsi excelled academically and had high dreams of becoming a software engineer. He was in his final year, pursuing a BTech CEC degree from a reputed engineering college in Vaddeswaram. With placements just round the corner, he was thrilled like never before.
However, little did he know that his dreams would not see the light of the day as he was unable to repay high-interest loans lately. Despite repaying the principal amount, the app operators continuously pressured him for excessive interest payments. Unable to disclose his financial troubles at home, Vamshi left his house and decided to jump into the rivier.
Before his death, he sent a message on his father's cellphone which read, "Mom, Dad, please forgive me. I am sorry." Panicking after receiving this message, his parents informed the police, who immediately launched a search operation.
Vamshi's bike was traced near the riverbank after which police received a tip-off about an unidentified body on May 27, which was later identified to be of Vamshi's. The family was in complete shock and despair when they found the body of their son. Vamshi's mother, Subhadra, and his brother, Yogikumar, are not in a state to speak right now.
There is no clarity on how much money Vamshi borrowed through the loan apps and exactly how much he had repaid, initial police investigation revealed. The police suspect that Vamshi had availed the loans as he was involved in cricket betting.
Kalyan Raju, Circle Inspector, Tadepalli, said app operators are shameless and continue to harass family members with phone calls even after a borrower dies. "Recently, a youth in the NTR district also fell prey to such an app and died by suicide after facing extreme harassment from its operators," he added.
Suicide is not a solution: If you are having suicidal thoughts, or are worried about a friend or need emotional support, someone is always there to listen. Call Sneha Foundation - 04424640050 (available 24x7) or iCall, the Tata Institute of Social Sciences' helpline - 9152987821, which is available Monday to Saturday from 8 am to 10 pm.
