Finance Dept must act on unlicensed microfinance companies: K’taka Home Minister
Tumakuru: Karnataka Home Minister G. Parameshwara said on Wednesday that the Finance Department must act against the microfinance companies operating without licenses in the state.
Addressing the media in Tumakuru city after visiting the Siddaganga Mutt, Parameshwara said, “We are not aware of microfinance companies operating without licenses. The Finance Department will have to take necessary action.”
He further added that if individuals trapped by microfinance companies file complaints, the government will immediately take action and investigate the matter.
“There are already several cases registered in this regard,” he said.
He added that if such activities are happening in Tumakuru district the government will act promptly.
“For instance, a woman in Tiptur town of Tumakuru district committed suicide due to harassment by microfinance companies. There were two more similar incidents in and around Tumakuru. We have registered cases and initiated legal action,” he said.
The state Home Minister is a native of the Tumakuru district.
He said that such incidents need to be prevented across the state but the government cannot know about them in advance.
“The police will handle cases whenever complaints are lodged; otherwise, they cannot monitor proactively. Guidelines for conducting microfinance businesses exist, but violations of these guidelines cause problems. Many operate without proper authorisation, registration, or licenses. If we become aware of such violations, we will take action. Innocent people often invest money and get trapped,” he said.
Regarding a statement by Congress President Mallikarjun Kharge on the diminishing “sacrificing nature” in the party, Parameshwara said that even he is unclear about the exact context in which Kharge made such remarks.
“During the freedom struggle, Congress members sacrificed their lives and properties. For example, the father of former Prime Minister Jawaharlal Nehru donated all his property to the party. Similarly, many individuals across the country made sacrifices. I believe Kharge was referring to the fact that this mentality of sacrifice has diminished in society as well as within the Congress party,” he said.
When asked about infighting within the party, Parameshwara remarked, “I will not make political comments.”
Responding to a question about pending bills, he said, “The clearance of pending bills is often slower before the presentation of the budget, but they will be cleared in at once. I will make efforts to expedite the process.”
Speaking about the late Shivakumara Seer of Siddaganga Mutt in Tumakuru, Parameshwara praised his contributions, saying: “The seer laid a new path of social service. He ensured that students were fed and educated for free, providing them with a foundation to become responsible citizens by imparting religious and social values. We are considering declaring ‘Dasoha Day’ (Day of Service) in his memory at the government level. The matter will be discussed with Chief Minister Siddaramaiah, and a decision will be made accordingly.”
