Everyone is aware of the increase in cost of land. The reason for this, though not obvious to everyone, is the easy availability of housing loans. People find it easy to pay bank installments and jump to obtain loans without bothering about the interest to be paid. This has benefited only the richer class and the weaker sections are left without a permanent house of their own. Whereas this was not the case in earlier times when our forefathers constructed beautiful houses without the support of any bank, though their salaries were much below the present salaries. The case is not just with lands or houses, but today banks have influenced the lives of people so much so that every celebration from birth ceremony to death ceremony can be organized with a bank loan. The banks which were formed to provide security to our money have taken total control of our lives in the name of loans with high interest rates thus making our living costlier.
Nazrana Darvesh, St. Cruz
