Hyderabad: TDP leader Mr. Aravinda Kumar Goud has alleged that the Micro Finance Bill being brought I n by the government was going to benefit these organizations and not the people.
In a statement here on Monday, he said though the legislation brought by the state government stipulated that the interest should not exceed 26 percent and there should not be forceful collections, these rules were not being implemented. He said the central government which has to control these micro finance companies and come to the rescue of the poor, was acting in the contrary.
He said the central government bill would only strengthen the micro finance organizations and not help the poor people. He has warned that the TDP would stand by the people and fight against these organizations which get money from the banks at lower interests and give it at a higher interest to the people.