GUWAHATI: In the wake reported harassment on people by micro finance groups which charge very high interests from people who take loans from them, alert has been sounded by Assam government to put these microfinance organizations under surveillance.
Accordingly, the Deputy commissioner of Sivasagar Dr. MS Lakshmi Priya issued on Monday asking all micro finance institutions operating in the district to submit their certificate of registration.
The Deputy Commissioner through this order also asked the micro finance institutions to submit other relevant documents of concerned institutions within the next seven days.
The order further stated that failing the same, it will be assumed that the institution does not have valid documents for carrying out financial transaction. It also stated that inability to produce the valid certificates shall attract penal provisions against such institution as per law.
The Deputy Commissioner also appealed the general public to bring to the notice of the district administration if any such micro financial institution is found to be involved in mala fide or illegal financial activities.
The Deputy Commissioner also stated that if any public is found conniving with any unlawful or illegal financial activities or institutions, strict action will be initiated against such individual or organization.
This order was issued following several complaints lodged against some micro finance institutions operating in the district.
