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Not too long ago, we were
hearing regular news about
poor borrowers, unable to
withstand the pressure of
coercive tactics adopted by
micro finance institutions in
Andhra, committing suicide.
Now it is the turn of lenders,
thanks to recent regulatory
crackdown. Recently, A.
Prathap Reddy, chief executive
officer of SEWA MACTS
Federation, a Hyderabad based
micro-lender, ended
his life. This is the second
such incidence where chief
executives of microfinance
companies committing suicide
in recent months. Life
has come a full circle for
some of the professionals in
the microfinance industry in
Andhra - lenders in Vidarbha,
beware it may happen
there too!
Disclaimer
News spoofs appearing on PM Spoofs are works of fiction. Readers are advised not to confuse these with real incidents. Any resemblance of spoofs to actual people, living or dead, or events, past, present or future, is purely coincidental.
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