On Tuesday, District In-charge and Public Works Minister Satish Jarkiholi revealed that around 15,000 women who had taken loans from a microfinance company were deceived in a large-scale scam estimated at ₹100 crore. Speaking to the press in Belagavi, Jarkiholi confirmed the formation of a three-member police team tasked with thoroughly investigating the case.
“These women were duped into believing they would receive large loan amounts, only to be swindled,” Jarkiholi stated. He further mentioned that the middlemen, who played a crucial role in persuading the women to apply for loans, would be detained and questioned.
In an effort to provide relief to the affected borrowers, the minister clarified that instructions had been issued to the microfinance company to stop pressuring the women for loan repayment.
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