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Many Gulf Indians in debt trap
Kochi: Accompanying a major proliferation of the sources of credit in the UAE, payment defaults and cases against defaulting Indians have also been on the rise. While the main sources of loans continue to be banks that charge up to 8 per cent and credit cards that charge 30 per cent, increasing instances of Indian expatriates sourcing credit from private moneylenders who charge between 72-120 per
Kochi: Accompanying a major proliferation of the sources of credit in the UAE, payment defaults and cases against defaulting Indians have also been on the rise. While the main sources of loans continue to be banks that charge up to 8 per cent and credit cards that charge 30 per cent, increasing instances of Indian expatriates sourcing credit from private moneylenders who charge between 72-120 per
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