Former Karnataka Chief Minister and BJP MP Basavaraj Bommai has accused the Congress-led state government of losing control over microfinance institutions (MFIs), leading to widespread harassment of vulnerable citizens.
Addressing the media here on Thursday, Bommai alleged that microfinance agencies were resorting to extreme measures, including forcibly seizing even mangalsutras from women. This exploitation, he claimed, has driven families to abandon their homes, with some even taking their own lives.
“The government is failing to enforce the law. There is no fear among these institutions, and rowdy elements are being allowed to carry out collections,” Bommai said.
He criticized the government for its contradictory stance, mentioning that while it claims to support women-centric programmes, it is unable to curb the harassment perpetrated by some microfinance companies.
Bommai recalled a law introduced during H.D. Kumaraswamy’s tenure as Chief Minister to regulate high-interest lending practices. However, the legislation was stayed by the court. …