Nanjangud: Strongly condemning the high rate of interest charged by Microfinance companies and forcible actions for recovery of loans, farmers under the banner of KRRS staged a demonstration in front of Tahsildar Office in Nanjangud town on Wednesday.
Addressing the protestors, KRRS President Badagalapura Nagendra said that Microfinance companies have been harassing the farmers and other loanees by charging high interest on loans. Stating that these companies collect the Aadhaar card, property documents etc., of farmers while advancing loans, Nagendra alleged that farmers are being made to pay a heavy price for any default in repayment of loans along with higher interest.
