CPI(M) to stage protest in Kalaburagi on Monday
The Hindu
Kalaburagi CPI(M) demands Karnataka government enforce Micro Loan Ordinance, curb microfinance harassment, and support self-help groups.
As part of its State-wide agitation, the Kalaburagi district committee of the Communist Party of India (Marxist) will stage a protest here on Monday demanding that the State government ensure effective implementation of the Karnataka Micro Loan and Small Loan (Prevention of Coercive Actions) Ordinance 2025 and curb harassment of poor people by microfinance companies.
CPI(M) district secretary K. Neela and executive committee member Sudhama Dhanni, addressing presspersons here on Thursday, said that hundreds of people from across the district harassed by microfinance companies will join the agitation led by CPI(M) outside the Deputy Commissioner’s office here on Monday.
They urged the State government to strengthen self-help groups, okkutas and gramin banks by extending financial assistance of ₹15 lakh for each sangha of the okkuta as Community Investment Fund.
The State government should end exploitation of loan borrowers by microfinance companies. The activists also demanded that the government implement the Runamukta scheme at the grassroots so people can benefit.
The other demands include constituting regulatory authority for microfinances and bringing all microfinances under the supervision of Reserve Bank of India.