House owners thrown out by microfinance company

Raichur: In an incident a 7-month pregnant woman, was reportedly evicted from her home by a microfinance company. The victim identified as Deena Philip a native of Aravatige village in Alnavara taluk in Dharwad district on Saturday.

“We had taken a loan from the finance company and were paying installments every month. Despite this, the company seized our home due to unpaid dues. We have been living outside our house since yesterday,” said Dina, expressing her anguish. She added, “We have already paid half the installments, but even after requesting more time to pay the remaining amount, the company has refused to cooperate.”

Reacting to the incident, Minister Santosh Lad said, “If the home was seized following a court order, direct intervention may not be possible. However, if there has been inhumane treatment, action will be taken. We will gather more information on the matter.” Minister Lad also condemned the growing complaints against microfinance companies in the district. “Harassment, blackmail, and the involvement of hired goons to threaten borrowers are unacceptable. If such practices continue, we will take strict legal action against these companies,” he warned. Amid rising allegations of harassment by microfinance companies, Chief Minister Siddaramaiah held a significant meeting on Saturday. He issued a stern warning to organisations engaging in illegal loan recovery practices. This incident has raised serious concerns about the aggressive recovery methods employed by microfinance institutions, prompting the government to closely monitor their activities and ensure accountability.