Pratap Sarangi urges Odisha CM to rein in microfinance companies

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New Delhi: Union Minister Pratap Sarangi has urged Odisha Chief Minister Naveen Patnaik to rein in the microfinance companies in the state who exploit women.

In a letter to Odisha CM, Sarangi said that Coronavirus has unleashed a great deal of hardship on the women borrowers. The Micro Finance Companies such as Bandhan, SKS, Asmita, Sartin, Spandana, Prafulla, HDFC and Gramashakti are trying their best to lure them and exploit them during such a health emergency, he added.

Sarangi said even during this juncture these Micro Finance Companies have not stopped collecting dues despite Centre’s six months moratorium on loan repayment.

Union Minister Pratap Sarangi, in his letter,  has urged CM Naveen Patnaik to formulate firm guidelines to force them to drop their nefarious activity.

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