Waive Interest on MFI Loans: CPI
Communist Party of India General Secretary D Raja issued the following statement today (on June 13, 2020) demanding interest waiver on MFI loans:
The Communist Party of India demands that the government should waive interest on the loans advanced to micro-finance institutions (MFIs). MFIs are in fact the lifeline of the rural poor and self-employed, who manage to pull on their lives with the support of loans given to them without any collateral security.
The government is extending a lot of concessions to corporate houses and affordable sections of people, whereas the most-needy poor in the society are as usual neglected and ignored even in the days of Covid-19 and the lockdowns that followed.
The Party urges the government and the RBI to relax the norms and waive the interest burden on MFIs.