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Tuesday, November 23, 2010

CPI (M) ON MICRO FINANCE LOOT

The Central Committee of the Communist Party of India (Marxist) met in New Delhi from November 19-21, 2010. It has issued the following statement:

The Central Committee expressed serious concern at the exploitation by micro finance companies who are charging exorbitant interest rates on loans given to members of self-help groups. The Central Government should through legislation, introduce a cap on interest rates and strictly regulate this sector.

Source: www.cpim.org

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