Karnataka has been reporting large scale harassment of those who have availed loans from micro finance companies.
| Photo Credit: The Hindu
Chief Minister Siddaramaiah on Sunday (January 26, 2025) said that a helpline would be opened in the office of deputy commissioners in the district to help those in distress due to harassment by the micro finance companies, and this helpline would receive complaints from victims.
Speaking to media here, he said that action would be initiated against micro finance companies if complaints are filed against them by the victims.
Also read | Karnataka’s microfinance loan volume grew nearly threefold in last four years to ₹42,265 crore: MFIN
His statements comes in the light of large scale harassment being reported across the State of those who have availed loans from micro finance companies. Cases of suicides have also been reported while in some cases, people have deserted their villages due to harassment from the recovery agents.
On January 25, the State Government also decided to bring a bill to curb the harassment, and the Chief Minister questioned dubious methods of lending and recovery process at a meeting with representatives of micro finance companies.
Published – January 26, 2025 05:00 pm IST
