Mandya
In Hollu village, district representatives from microfinance companies and banks faced protests from over 30 women from women’s power organizations. The demonstration took place in front of the Gram Panchayat with protesters using a hanging noose as a symbol. The women demanded more time to repay their loans, citing excessive harassment from loan recovery agents.
More than 500 families in Hollu village have borrowed from over 30 microfinance companies and banks. Many are struggling to repay their loans and have been pressured by recovery agents. While some villagers did not join the protest, those affected by the harassment were vocal about their grievances.
Microfinance companies often require weekly loan installments. If payments are missed, company representatives visit homes to force repayment. This practice has been criticized for causing mental distress among borrowers.
Protesters reported that even those who do not need loans are pressured into borrowing, and then face aggressive collection tactics. One protester, Nandini, explained that despite paying Rs 25,000, she still faces pressure to pay more. She and others have been harassed and threatened with further actions if they do not comply.
The protest aimed to draw attention to the harsh recovery methods and to request more leniency and time for loan repayment.
