Hyderabad, October 13: Telugu Desam Party president N Chandrababu Naidu has demanded a white paper on micro finance institutions and their operations in the state.
Addressing a news conference here on Tuesday, the TDP supremo said that because of lack of action on the part of the government, the MFIs were resorting to questionable methods in collection of installments of loans taken by the poor in the villages.
“Neither the chief minister, nor the RBI, nor the governor bothers about the plight of the poor women,” Naidu said.
The crisis in the rural Andhra Pradesh is on account of the exorbitant rates of interests the MFIs are charging on loans taken by farmers. “It ranges from 32 per cent to 50 per cent,” Naidu said.
He demanded that Rahul Gandhi, who is reported to be backing the MFIs, should spell out what great features about the MFI had attracted him and how he saw them benefiting society at large.
Referring to the ‘need’ for removal of tainted ministers from the state cabinet, the TDP chief said that corruption had pervaded all departments and the ministers were looting the state. “We will submit a memorandum with evidence against these ministers to the governor and fight till the objective is achieved,” Naidu said.
Naidu, referring to YS Jagan Mohan Reddy paying an advance tax of Rs.84 crore to the Income Tax department, said it was indicative of the size of assets the YSR family was in possession, The family had converted the state’s assets into their personal assets, he said.
On Karnataka imbroglio, Naidu found fault with both the governor and speaker. He said the present state of affairs in the neighbouring state was the Congress’ lust for power and the BJP’s willingness to stoop to any level. In the process, a great harm had been done to democracy, Naidu said.
–Agencies