A series of tragic suicides in Karnataka has spotlighted the alleged harassment by microfinance institutions. In Davanagere, a schoolteacher, Pushpalatha, ended her life by jumping into a river on January 26, reportedly due to relentless pressure from loan recovery agents. Her body was found two days later.
Pushpalatha and her husband, both teachers, had borrowed from a microfinance firm in Shivamogga. Unable to clear the final installment, she faced repeated visits from agents, even at her workplace. The pressure, compounded by a police complaint, led her to despair. CCTV footage revealed her in deep distress before the fatal act.
Similarly, in Tumakuru, Syed Samiulla, who had repaid nearly double his loan amount, suffered a fatal heart attack, allegedly triggered by continuous harassment over interest payments. His widow now fears for her family’s safety, citing ongoing threats from agents.
In Mysuru’s Ambale village, 53-year-old Jayasheela, burdened by crop failures and an unpaid farm loan, consumed poison, ending her life. Her financial struggles escalated after her dairy cow died, leaving her unable to meet steep EMI demands.
These deaths follow a high-level government meeting where CM Siddaramaiah pledged legal reforms to curb aggressive recovery tactics. An ordinance is in the works to safeguard borrowers from exploitative lending practices.
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