National Janata Dal State general secretary Noufiya Naseer inaugurating a Mahila Janata protest march against microfinanciers at Palakkad on Thursday.
Mahila Janata activists took out a march to ESAF small finance bank office here on Thursday, protesting against the increasing grip of microfinanciers on homemakers in the poor strata of society.
Inaugurating the march, National Janata Dal State general secretary Noufiya Naseer said that hundreds of poor women in the State were on the verge of ending their lives because of the cut-throat behaviours of microfinanciers.
She said microfinanciers were behaving like ‘blade mafia’ and many were charging up to 60% annual interest from their women clients in blatant violation of the State’s Prevention of Charging Exorbitant Interest Act of 2012.
She said the beneficiary women were being threatened and harassed when they default loan repayment. “Several microfinance firms are functioning like goons,” she said.
Describing their modus operandi, Ms. Naseer said that the financiers form a group of beneficiaries and make one of them convener of the group before giving them up to ₹50,000 as loan. The repayment of the loan is made in 40 to 60 weekly instalments, and each week the collection agent reaches the woman’s house and insist on payment.
“They insult the women, and sometimes threaten them, if there is any delay in the weekly repayment. The women most often do not raise any protest as they are frightened. We have complained to the police several times seeking action against the microfinanciers, but nothing has happened,” she said.
National Janata Dal district vice president K.J. Nainan, district treasurer M.A. Sultan, district secretaries A. Vincent, M.A. Varghese, and R. Suryaraj, and Mahila Janata district secretaries Nilavarnisa Rafi and Prasanna spoke.
Published – December 19, 2024 07:44 pm IST
