Women surround Karnataka Minister Satish Jarkiholi, complain about being cheated by micro finance institution in Belagavi

They claim that the company took loans in their names, but did not deposit the money in their accounts.

Hundreds of women surrounded district in-charge Minister Satish Jarkiholi in Belagavi on December 3 to complain against a micro finance institution that they claimed had cheated them.

The women gathered outside Congress Bhavan at Sangolli Rayanna Circle and appealed to the Minister for justice. The Minister assured them of initiating an investigation and taking proper legal action to help them get back their savings.

According to the women, Yallavva Bannibag from Halabhavi village in Belagavi taluk had formed Rani Channamma Rural Micro Finance Company. Yallavva Bannibag had formed self-help groups (SHGs) in several villages and organised around 3,000 women in around 150 groups. They were taught to save money weekly and deposit it with the company. The women were told that they could easily avail bank loans. While the company took the loans in the names of the women, the money was not deposited in the accounts of the women.

The women came to know about this only when they got notices from multiple finance institutions. Some women went to the micro finance company to seek an explanation from Yallavva Bannibag. But they could not find her. The money that they had deposited in the company was also gone.

They filed a police complaint against Yallavva Bannibag at Kakati police station.

On December 3, they met the Minister seeking his help in getting back their hard-earned money.

The Minister promised that their problems would be addressed. “I am with you, and the government of Karnataka is with you. I have already spoken to the police commissioner and told him to conduct a proper investigation. Please bear with us till the end of the winter session. I will personally discuss this issue with various officials and strive to get back your money,” he said.