Acting on the complaints of alleged harassment of farmers and the public by the representatives of microfinance companies for loan recovery, Mandya Deputy Commissioner Dr. Kumara told the microfinance institutions not to bother farmers and public and bring pressure on them in the name of loan recovery.
Presiding over the meeting of microfinance companies at his office in Mandya, the DC said it had come to his notice that the loan recovery persons of microfinance companies were harassing and pressurising farmers and public for loan repayment.
In case of any untoward incidents or the measures taken by them exceeds the limits, then such institutions will be held responsible and cases can be booked against them on charges of harassment, he warned.
As all the taluks in Mandya have been declared drought-affected, loan recovery can be put on hold for the next two to three months. Already, a sum of ₹34 crore had been released to 77,000 farmers in the district as relief for the damage caused to their crops.
In the wake of the drought, the microfinance companies must give time for the next two to three months on humanitarian grounds and recover loans without pressuring the borrowers, he advised.
Also, there have been complaints from the public that the loan recovery agents were visiting the houses of the borrowers for loan recovery in the mornings, causing inconvenience to them. Instead of resorting to loan recovery in the mornings, the persons need to fix time for the purpose so that there is no inconvenience caused, he suggested.
In case of microfinance institutions harassment continues, farmers and the public can call the toll-free number 18004255654, and 18001021080, and 01147174410 for assistance.
Lead Bank Manager Arun Kumar, ADC H.L. Nagaraj and others were present.
