Member of Parliament Basavaraj Bommai has said that the Congress government has lost control over microfinance institutions which are forcing people to take the extreme step of ending their lives.
Speaking to presspersons in Hubballi on Thursday, Mr. Bommai, who is a former Chief Minister, said that despite there being a law, the State government is not using its legal power to keep microfinance institutions under control.
“There is no fear of law among the microfinance companies which are employing history-sheeters for ensuring repayment of loans. While the State government claims that it is initiating programmes for the welfare of women, it has failed to check microfinance companies from snatching away the mangalasutra of women,” he said.
Mr. Bommai said that the former Chief Minister H.D. Kumaraswamy, who is Union Minister now, had brought in a stringent law during his tenure to prevent charging high interest on loans. However, that legislation has been stayed by a court of law.
The Congress government led by Siddaramaiah should take steps to get the stay order vacated at the earliest to take strong action against erring micro finance companies, he said.
No difference
Later in the day, speaking to presspersons in Gadag, Mr. Bommai said that there is no dissidence in the BJP and termed the differences between the former Ministers G. Janardhan Reddy and B. Sriramulu as a fight between brothers which will be resolved by seniors in the party.
He said that both Mr. Reddy and Mr. Sriramulu are close friends and at times, differences crop up between friends. But ultimately friendship will win and soon, they will be together working for the party, he said.
