Hyderabad, October 15: Senior BJP leader C H Vidya Sagar Rao blamed the state government for the plethora of micro finance institutions in the state and said ‘these institutions compel poor indebted persons to commit suicide as they adopt coercive and despotic means to recover money.’
Addressing a press conference here at state party office Vidya Sagar Rao stressed the need for effective implementation of Rural Debt Relief Act with which the despotism of these micro finance companies could be restrained.
Pointing out the statement issued by Minister for Rural development V Vasant Kumar regarding issue of ordinance to curb suspicious activities of micro finance institutions Vidya Sagar Rao said nothing would happen with these types of moves by the government.
———Siasat Bureau Report