The Periyanaickenpalayam branch of the CPI (Marxist) party has petitioned the Coimbatore collector to take action against the persons of micro finance companies which abet people towards committing suicide. The petition says women who live in Periyanaickenpalayam of Coimbatore district had obtained loans from the Micro finance companies.
9 to 45 members have been put together in a group and loans have been issued in 24 instalments. It has been reported that the dues for the loans obtained have been as per the schedule. However, the denominations of high value currency has severely impacted the income of the women as most of them are into small businesses. They are unable to pay the monthly instalments as they have no adequate income.
The managers of the microfinance companies are treating the women in a poor manner and also they abuse the defaulters verbally. The petition also says that the micro finance company managers have said to the one of the women, “If you commit suicide the company will get money from the insurance company. So you commit suicide.” The petitioners have requested the Coimbatore district collector to take action against the managers of the micro finance firm.
9 to 45 members have been put together in a group and loans have been issued in 24 instalments. It has been reported that the dues for the loans obtained have been as per the schedule. However, the denominations of high value currency has severely impacted the income of the women as most of them are into small businesses. They are unable to pay the monthly instalments as they have no adequate income.
The managers of the microfinance companies are treating the women in a poor manner and also they abuse the defaulters verbally. The petition also says that the micro finance company managers have said to the one of the women, “If you commit suicide the company will get money from the insurance company. So you commit suicide.” The petitioners have requested the Coimbatore district collector to take action against the managers of the micro finance firm.