Published On : Sat, Dec 17th, 2016

Nagpur slum women sexually exploited by micro finance companies alleges BJP MLA Mane

Millind Mane, Nagpur North MLA of ruling BJP party pointed through a calling attention in the House that Micro finance companies are exploiting Nagpur basti women, through their usurious ‘small loans’ with huge interest components.

He said groups of women were proffered loans on high rates of interest going up to 22% and when they falter in repayment they are made targets of sexual exploitation.

Pressure is also brought on them by forcibly taking away their house hold goods and threatening them physically. If these women complain to the Police, they received threats from police too said Mane.

The MLA asked the government if these hapless women could not have their loans waived off like Vijay Mallya’s was.

NCP politician and MLA Jayant Patil also seconded Mane’s demand saying that due to intimidation of some micro finance companies a woman from a slum in North Nagpur had committed suicide by jumping into the Shukrawari Talab. Another had attempted to take her life by jumping into the Kanhan river. Jayant Patil also accused the finance companies of creating bogus Adhar card and Voting card to enable women to avail of these loans.

BJP MLA Ashish Shelar said stern action must be taken against such companies.

Responding to this MOS Finance, Deepak Kesarkar replied that such companies are recognized by RBI who ‘allows’ them to charge up to 26% interest on small loans. The govt. is thinking of setting up an SIT to probe this matter and make recommendations to RBI to not allow not more than 10% interest.