Action against Private Banks and Microfinance Institutions forcing women from self-help groups to repay loans during lockdown: District Collector S. Nagarajan.
Coimbatore: The complete lockdown has been implemented in Tamil Nadu since May 10 with the aim of controlling the coronavirus 2nd wave. Following this, a complete lockdown is in place in the Coimbatore district. The Coimbatore District Collector has received complaints from various quarters that private banks and microfinance institutions in the Coimbatore district are forcing women self-help groups to repay loans.
As the second wave of the coronavirus spreads, women's self-help groups have lost their livelihoods. Therefore, it is being monitored at the district level by the Project Director, District Head Bank Manager, Assistant Project Officers (Women scheme) in this regard to avoid forcing them to collect the installment amount for their loan and avoiding charging extra interest. In addition, action is being taken to change the loan repayment schedule of women's self-help groups. Employees of private banks and financial institutions are from other districts mosty and infection is more likely to spread through them as they go to different places to collect the loan amount.
Therefore it is requested that action should be taken and in case of any complaints district administration said action will be taken against all concerned private banks, microfinance institutions and concerned persons in case of any violation of the lockdown currently imposed by the Government in the Coimbatore district.
As the second wave of the coronavirus spreads, women's self-help groups have lost their livelihoods. Therefore, it is being monitored at the district level by the Project Director, District Head Bank Manager, Assistant Project Officers (Women scheme) in this regard to avoid forcing them to collect the installment amount for their loan and avoiding charging extra interest. In addition, action is being taken to change the loan repayment schedule of women's self-help groups. Employees of private banks and financial institutions are from other districts mosty and infection is more likely to spread through them as they go to different places to collect the loan amount.
Therefore it is requested that action should be taken and in case of any complaints district administration said action will be taken against all concerned private banks, microfinance institutions and concerned persons in case of any violation of the lockdown currently imposed by the Government in the Coimbatore district.