Moneylenders lure liquor shop applicants with Malaysian tour offer in Asifabad
In Kumram Bheem Asifabad, moneylenders are offering loans with strict conditions and a Malaysia tour incentive to applicants seeking wine shop licences from December 1. The government has invited applications for 192 outlets, with reservations for SC, ST, and Gouds
Kumram Bheem Asifabad: Offering a four-day, three-night tour to Malaysia, certain moneylenders are cashing in on the growing demand among the public for wine shop licences to be issued from December 1.
They are reportedly giving loans to applicants on strict conditions that ensure high returns for themselves. A message outlining a series of conditions framed by a consortium of lenders for a group of 33 borrowers recently went viral on WhatsApp groups in Kagaznagar.
According to the message, borrowers must extend 30 per cent ownership of the wine shop to the lenders if they win a licence in the draw of lots. They must also agree to sell the partnership to persons suggested by the lenders, at prices fixed by them. The Malaysian tour offer is the incentive being dangled for them to agree to this. Borrowers must continue to adhere to the same terms if the licence is renewed.
Trading in liquor has become a lucrative business, especially as the real estate sector remains volatile. Many are coming forward to own a wine shop considering the high profit margins in a short time. However, the government recently increased the cost of an application from Rs 2 lakh to Rs 3 lakh, which is non-refundable.
Amid this growing demand, moneylenders see an opportunity to make quick profits by financing applicants who cannot afford the upfront cost.
The government has invited applications for licences to 192 liquor outlets across the erstwhile Adilabad district. The last date for submitting applications is October 18. Reservations have been fixed at 15 per cent for Gouds, 10 per cent for SCs, and 5 per cent for STs. Partnership firms and companies are also eligible to apply.
Depending on the population, the Retail Shop Excise Tax (RSET) varies from Rs 50 lakh per annum for villages with less than 5,000 people to Rs 1.1 crore for towns with a population of over 20 lakh. The first instalment of RSET is due on October 23 and 24. Shops will open on December 1, 2025.
