Women in large numbers, under the banner of Mahila Kalyan Unnayan Samiti, Assam staged a protest against microfinance companies in front of the Jorhat Deputy Commissioner’s office complex on Monday.

Alleging that the microfinance companies had ruined the rural economy, the women body demanded that these microfinance companies be banned from operating in Assam.

The organisation demanded an enquiry into the workings of such microfinance  companies and banks  which it said was not transparent and sought that they be monitored properly.

The protesting women further alleged that these companies were charging exorbitant rates of interest after giving loans to gullible villagers.

The organisation said that several families had been ruined after taking such loans.

The organisation further said that every week women, who had taken loans from these companies. were being harassed for extracting the interest and principal amount.

The affected women further said that several among them had been reduced to penury as they are unable to pay back the loans and that they had to sell off land, house or other valuables.

Smita Bhattacharyya

Smita Bhattacharyya is Northeast Now Correspondent in Jorhat. She can be reached at: triptyaddy@gmail.com