On the other side..Leaders of seven Opposition parties and the ruling Congress met Governor E.S. L. Narasimhan on Thursday and urged him to ensure that the interests of the poor were protected while promulgating the ordinance to regulate micro-finance institutions in the State.

A delegation of the leaders from the CPI, CPI(M), TDP, Praja Rajyam, Lok Satta, RSP, Forward Bloc and Congress submitted a memorandum to the Governor at Raj Bhavan.

The memorandum, among others, sought the abolition of MFIs in a phased manner, waiver of the entire interest on the loans taken by borrowers, registration of murder cases against MFI companies in connection with suicides by borrowers.

Payment of compensation of Rs. 5 lakh each to the kin of those who had ended their lives, by the companies and providing loans for SHGs and the poor at three per cent interest rate by banks.

Published Date, Friday, Oct 15, 01:05PM IST

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