Protest over suicides due to alleged harassment by MFIs
The HinduFollowing two suicides in Nanjangud taluk in the last 24 hours due to alleged harassment by microfinance companies, representatives of various farmers’ organisations staged demonstrations in Mysuru on Monday. Referring to the suicide by 35-year-old Krishnamurthy from Malkundi village and 53-year-old Jayasheela from Ambale village, Hallikerehundi Bhagyaraj, president of Karnataka State Sugarcane Growers Association, who led the demonstration outside the Deputy Commissioner’s office, said that the microfinance company representatives were not only flouting RBI rules but also resorting to harassment in the name of recovery of loans. He also called for measures to stop the practice of multiple finance companies issuing loans to the same person and demanded the government banish the microfinance companies that were violating the rules of the State. Meanwhile, Nanjangud MLA Darshan Dhruvanarayan called upon those who had taken loans from microfinance companies to remain courageous as the State Government was fully seized of the matter..
History of this topic
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