THIRUVANANTHAPURAM: Survivors of the devastating Chooralmala-Mundakkai landslides in Kerala’s Wayanad district are gearing up to intensify their protests after the Reserve Bank of India (RBI) declined their request to instruct banks to waive their loans. Many survivors, who are still struggling to recover from the disaster, are without jobs or income and are unable to repay loans taken from both public and private sector banks, as well as Non-Banking Financial Companies (NBFCs).
In October, a citizens’ group called the Volunteers of Chooralmala Relief Centre met with RBI officials in Thiruvananthapuram to press for a loan waiver. Despite the meeting, residents continue to receive persistent reminders from banks and NBFCs demanding repayment.
The collective’s petition asked the RBI to cancel home loans, agricultural loans, personal loans, vehicle loans, gold loans, and loans linked to self-help groups (SHGs). They also requested the return of security documents, protection of credit scores, and the issuance of interest-free loans to help rebuild agricultural and small businesses. While some banks have shown a willingness to restructure loans or make them interest-free, no definitive decisions have been made as of yet.
Rajesh C.K., a former tourist guide, expressed frustration over the situation, saying, “We may have to escalate our protests now. We’ve been asking for loan forgiveness, but banks just want to restructure the loans. They’re not giving us a clear response, and people keep getting messages demanding repayment.”
In response to the lack of action, survivors are planning to broaden their protests across the district. Sabita S., the Kudumbashree secretary for Attamala ward in Meppadi, said, “Two months ago, the lead bank had people sign application forms for a loan moratorium, but we’ve heard nothing since. NBFCs continue to call people about repayments. There are no jobs, no money, and people don’t know how they will repay. Self-help group work has been suspended due to the elections.”
Adding to their woes, many survivors have not received the promised Rs 300 financial aid from the government.
“There is another larger group working with the people. We’ll consult with them and decide on the next steps,” Sabita added. The citizens’ collective is now facing its own challenges, as many members have sought support from different political parties to push their demand for loan forgiveness.
As the survivors continue to struggle, the pressure is mounting on authorities and financial institutions to find a solution to their pressing needs.
