MFIN Addresses Harassment Allegations Amid Protests

The Microfinance Industry Network (MFIN) rejects harassment claims by microfinance companies in a state, labeling them as rumors spread by ill-informed individuals. Protests have erupted, advocating for action against these companies. MFIN urges thorough media fact-checking while remaining open to addressing genuine concerns.

The Microfinance Industry Network (MFIN) has firmly dismissed allegations of harassment by microfinance companies, attributing them to a misinformed minority aided by unauthorized entities. This statement comes in response to widespread protests across the state demanding action against alleged oppressive practices by these companies.

As a recognized Self-Regulatory Organisation, MFIN, spearheaded by Rama Kamaraju, states that its operations adhere to a carefully calibrated advisory approach. MFIN is also committed to protecting the microfinance ecosystem from any detrimental rumors and urges the media to conduct thorough fact-checking.

The accusations have gained more attention after reports of suicides linked to alleged harassment by microfinance companies in Ramanagara district. MFIN invites open dialogue to address any legitimate concerns within the microfinance sector while emphasizing the need for accurate reporting.

(With inputs from agencies.)