Reference Devan Daniel’s interesting column in The Island of 21 November and 28 October which brought tidings of great joy: the government’s directive to state banks to slash interest rates to hard-pressed borrowers. But to our disappointment no relief has yet been afforded to them.

My husband is a hotel employee in an Indian Ocean atoll; he is the sole breadwinner of the family. He took a loan to build a roof over our heads from a reputable bank three years ago and is paying for it dearly ever since, for a partially built two-room house. The bulk of his salary goes to meet the monthly repayment of the capital, and gini poli which amounts, to over double the capital repayment, which leaves almost nothing to meet other necessities. We have to skimp and scrape to make ends meet, with no relief in sight.

The bank concerned has afforded no relief to long-suffering borrowers. It is time the bank reduced the interest rates on housing loans, in line with other state banks. For instance a premier state bank has cut the interest rate to 12 percent.