Fix Interest Rates For MFIs : Chiru

Praja Rajyam Party president K Chiranjeevi, on Thursday, urged the State government to impose moratorium for 1 year on the loans taken by Self Help Group women and rural folk from the microfinance institutions. Talking to media , the PRP chief stated that the government should impose the moratorium until the Reserve Bank of India appointed sub-committee submitted its report to the government. Chiranjeevi urged the Chief Minister to mount pressure on the Centre, Finance Minister Pranab Mukherjee and Reserve Bank of India to fix interest rate on microfinance institutions. Expressing concern over shortage of space for storing paddy, the PRP chief asked the Centre and State government to make efforts to provide space in warehouses.
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