Cops crackdown on Old City's financiers

Cops crackdown on Old City's financiers - Sakshi Post

The police have launched simultaneous raids on the hideous world of financiers in the Old City.

At least 25 financiers are being raided and in the Yakutpura region, local muscle-man Jafar Pahelwan, a locally powerful financier, has been taken into custody. This led to minor tension in the area.
The problem of extortion and highhandedness of the bouncers employed by local financiers has come to light when Jawed, a printing press owner in Chatta Bazaar, was killed by the alleged bouncers over non-payment of loan installment.
The police enquiry found that the financiers resort to physical abuse, kidnap of women and and even killing. In 2011, a girl identified as Sameera, was pushed from atop Charminar for non-payment of loan. The financiers also extract interest up to 20 per cent on the loans given. This type of finance is unique to the Old City region.
Locals say that the lenient attitude of the police towards the financiers' excesses has led to their getting emboldened. The police should have initiated action long ago, they say. The polce said that as many as 276 cases of financiers resroting to high-handedness were registered in the Old City since 2011.

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