DK Shivakumar plans ordinance to curb microfinance harassment in Karnataka
DK Shivakumar plans ordinance to curb microfinance harassment in Karnataka DK Shivakumar plans ordinance to curb microfinance harassment in Karnataka
Deputy Chief Minister DK Shivakumar announced that the Karnataka government was preparing an ordinance to tackle the harassment faced by the poor at the hands of microfinance companies in the state. Speaking from his Sadashivanagar residence, Shivakumar emphasised that the government would not tolerate the unlawful actions of microfinance companies that use “hooligans” to force loan recovery.
“The government will empower the police to handle these situations more effectively. We won’t allow microfinance companies to take the law into their own hands,” he said.
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Shivakumar addressed the issue of ongoing harassment despite government warnings, noting that numerous FIRs have been filed against microfinance firms in cities such as Belagavi, Bidar, Mysuru, and Ramanagara.
He confirmed that an ordinance has been drafted and would soon be sent to the Governor for approval. Helplines have been established at district headquarters to provide assistance to victims, and the Chief Minister plans to hold meetings with senior police officials to tackle the issue.
‘CENTRE FOLLOWING CONGRESS’ GUARANTEES’
The Deputy Chief Minister also responded to Union Finance Minister Nirmala Sitharaman’s comments on the state’s financial situation, defending Karnataka’s fiscal health.
“When we announced the five guarantees, the Honorable Prime Minister said we would become bankrupt. Now, they are following our model to win elections. We didn’t implement these guarantees for votes, women were struggling due to rising prices, gas prices were increasing, and the cost of daily essentials was soaring. We introduced these guarantees to support them. Now, they have started the same model everywhere. Before questioning whether our state is becoming bankrupt, ask them what contributions they have made to Karnataka,” he said.
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When asked about the non-release of funds for the Upper Bhadra project, he said, “Promises should be kept. Let the Union government first fulfill its commitments.”