Daijiworld Media Network – Karkala (HB)

karkala, Nov 30: “Karkala Taluk Debt Relief Campaign Committee will hold protest on December 3 at Bandimatt in Karkala here demanding the government to take action against micro finance companies, which are torturing poor women in the pretext of debt recovery,”said by Sunil Hegde, general secretary of the committee at Udupi press club here on Saturday, November 30.

Addressing media he said, “Many women are the victims. Some banks are targeting poor women in villages and lending unsecured loans at exorbitant rate of interest. These micro finances are availing loans from nationalized banks at 11% interest and are further lending it to poor rural women at 21 to 31% rate of interest. They then use power and force to recover these loans from women on weekly basis. In a strange case, a group of bank people are coming at night and are subjecting people to mental torture.

“These micro finances claime that they are operating after obtaining license from Reserve Bank of India. But it seems like they are violating banking laws of the country and are conducting business illegally at the jurisdiction of nationalized banks but are unquestionable.

“Karkala Taluk Debt Relief Campaign Committee is demanding the government to freeze and waive unsecured private hand loans lent by these micro finances among poor rural agricultural labour families, backward and small farmers and to nationalize these micro finance institutions.

“Several police complaints have been registered in various stations in Udupi and other districts.

“The debt victims will stage a protest on December 3 at 10 am in front of Mini Vidhana Soudha, Karkala, and submit an appeal to the government to waive these loans,” he said.

Manjunath Bailuru, president, Karkala Taluk Debt Relief Campaign Committee, Sukesh Bailuru, Vithesh Bajagoli, Prashantha Hemmunde, and Rajivi, women wing were present.