Mangaluru: Microfinance cos, cooperative societies cannot demand repayment of loans amid Covid - DC


Daijiworld Media Network – Mangaluru (EP)

Mangaluru, May 27: Dakshina Kannada deputy commissioner Dr Rajendra K V in a press release dated May 27 banned microfinance companies, cooperative societies and non-banking financial companies from demanding the repayment of loans borrowed by people during the pandemic.

He stated that the district administration on the directions from the government is taking precautions to break the chain of coronavirus. "It is necessary to avoid crowds and gathering to contain the virus. Travel is only permitted for emergency reasons," the DC said.

The deputy commissioner has appointed the below people as nodal officers. People can reach out to them with their grievances concerning microfinance companies and non-banking financial companies that are demanding the repayment of loans.

Praveen, lead district manager for Mangaluru can be contacted on the - 9449860916 and will receive concerns pertaining to non-banking financial companies. Meanwhile, the nodal officer for microfinance companies and cooperative societies is Praveen B Nayak, deputy regulatory of cooperative societies for Mangaluru. He can be contacted on - 9448633338.

The nodal officers are directed to respond to the complaints from borrowers swiftly. They should provide solutions to the problems of people by working in coordination with borrowers and the microfinance companies, cooperative societies and non-banking financial companies.

 

 

 

 

 

  

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Comment on this article

  • Jayaraj, Kotkar

    Fri, May 28 2021

    Last one year malaika multi state co op credit society ltd Manglore scam chargsheet pending.

    DisAgree Agree [3] Reply Report Abuse

  • pramod, bejai

    Fri, May 28 2021

    please include home loans also by nationalised banks

    DisAgree [1] Agree [3] Reply Report Abuse

  • Ajay, Mangalore

    Fri, May 28 2021

    Can microfinance/ cooperatives delay in paying back the deposits to its customers?

    DisAgree [1] Agree [6] Reply Report Abuse

  • AD, Mangaluru

    Fri, May 28 2021

    Can a DC make this decision? They are administered by RBI. RBI should make this decision.

    DisAgree [2] Agree [9] Reply Report Abuse

  • Ash, Mlr

    Fri, May 28 2021

    DOES ANYBODY FOLLOW ?

    DisAgree [2] Agree [1] Reply Report Abuse

  • Anilkumar, Mangalore

    Thu, May 27 2021

    The intention is understood and well taken. But if such unilateral and generalised orders are issued, the end result would be that those who actually can repay the loans and also those who deliberately want to avoid will together abstain. End result will be burden on those poor people who will be harassed at later date by very same co-op societies. Who is DC to pass such orders when legally the borrower has to repay the loan?

    DisAgree Agree [10] Reply Report Abuse


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Title: Mangaluru: Microfinance cos, cooperative societies cannot demand repayment of loans amid Covid - DC



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