Mumbai: The Maharashtra government has formed a study group to suggest ways to help women stuck in a “debt labyrinth” of micro finance companies in rural areas and resolve their economic issues, Minister Hasan Mushrif said on Friday. The state-level study group will submit at least its interim report in the next three months, Mushrif was quoted as saying in an official statement.
It said the study group will be headed by Jalna Zilla Parishad chief executive officer Nima Arora, while her Bhandara, Dhule and Ratnagiri counterparts and four other non-government functionaries will be members. “The study group has been formed to suggest ways to bring out women who are stuck in karz chakravyuh (debt labyrinth) of micro finance companies in rural areas and resolve their economic issues,” the statement quoted Rural Development Minister Mushrif as saying.
Mushrif said women from self-help groups in rural areas face difficulties in securing bank loans and, hence, opt for debt from micro finance companies, which then trap them with higher rates of interest.
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