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MFI offices vandalised

Staff Reporter

CPI, Mahila Samakhya activists arrested in Warangal



Angry protest:CPI workers vandalise an MFI office in Warangal on Wednesday.

WARANGAL: Launching “direct action” against the microfinance institutions that were fleecing the poor and harassing them for recovering dues, victims of the MFI activities led by the Communist Party of India raided their offices at some places on Wednesday.

CPI and A.P. Mahila Samakhya activists vandalised the MFI office at LB Nagar in Warangal demanding closure of MFIs that were harassing the poor. They raided the office and damaged furniture and records of the office.

Over 20 persons including 11 women were arrested and remanded to judicial custody. Samakhya district secretary N. Jyothi said MFIs were flouting the RBI norms and harassing women in the name of recovery. This was driving the poor to commit suicides. They vowed not to allow the MFIs to operate in the district and demanded that the government take action against private money lenders and finance companies exploiting the poor.

In a similar incident in Khammam, All India Youth Federation activists reportedly raided the office of a micro-finance company at Vikalangulanagar and damaged the office furniture here. According to information, a group of AISF activists arrived at the office on motorbikes and damaged two computers. Two town CI A. Naresh Kumar said five persons including AIYF leader S Narendra were arrested following a complaint lodged by the MFI branch manager Ramesh. Irate activists raided MFI offices in Tirupati and Palakonda in Srikakulam district where a borrower attempted to commit suicide. Meanwhile, the revenue divisional officer of Narsipatnam in Visakhapatnam and police seized records of two MFIs. The action followed instructions from the district Collector.

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