Dharwad: The district administration has warned microfinance companies disbursing small and long term loans, not to exert undue pressure on the farming community to repay their loans. The financial companies must provide a year’s time to repay their loans in view of the drought situation in the district, Deputy Commissioner S B Bommanahalli said.
Presiding over a meeting held at DC office on Friday with leading microfinance companies, Bommanahalli said demonetisation and drought situation in the district had impacted the life of poor and farmers a lot. “Farmers are in such a bad situation that they are unable to pay their loans. Financiers must not compel them to pay back their money. Nobody should take law into their hands for loan recovery. If so action would be taken against them”, he warned.
MLA C S Shivalli, MLC Nagaraj Chabbi and former mayor Prakash Kyarkatti held discussions with representatives of Janalakshmi Finance, Suryodaya, IDF Finance, SKS, HDFC and Gramshakthi among other companies and asked them to offer more time for farmers and poor people to repay their loans.
Additional DC Ibrahim Maigur, DySP B P Chandrashekhar, Tahasildar R V Katti and other officials were present.
