A widow from Raichur district, Parvathi, has sent her mangalsutra to Karnataka Home Minister G. Parameshwara on Thursday, demanding action against the staff of a microfinance company she alleges caused her husband’s suicide. Parvathi claims that her husband, Sharanabasava, was subjected to relentless harassment by microfinance company staff, which led to his tragic death on January 17.
Sharanabasava, a cab driver and laborer, had taken out an ₹8 lakh loan from private microfinance companies. Unable to pay some of the EMIs, he allegedly faced constant pressure and abuse from their staff. Local sources indicate that harassment by microfinance lenders has led to many people fleeing the area to escape similar mistreatment.
Parvathi has met with local authorities, including the Superintendent of Police in Raichur, and submitted a formal complaint about the incident. Her plea for justice has garnered support from local organizations.
Home Minister G. Parameshwara has acknowledged the issue, stating that microfinance companies engaging in physical assault and property seizure are breaking the law. He assured that police complaints would be acted upon promptly. Parameshwara also emphasized that action would be taken against unlicensed microfinance entities.
Karnataka Chief Minister Siddaramaiah is set to hold a meeting on this issue on January 25 in Bengaluru, as concerns grow over the widespread harassment of vulnerable citizens by unregulated microfinance institutions (MFIs). Several petitions have flooded government offices, with thousands of complaints from districts across the state.
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