Regretting the linking of the MFI issue to Telugu Desam Party president N Chandrababu Naidu, TDP Floor leader in Lok Sabha Nama Nageshwara Rao challenged AICC general Secretary Rahul Gandhi to a public debate on the issue.
The TDP leader condemned the remarks of Congress leaders for blaming their leader, and termed them unwarranted.
Talking to media persons at the TDLP office, Nageshwara Rao stated that the TDP leader has every right to question the State government on public problems and seek action.
He charged the government of failing 'totally' in regulating the operations of MFIs in the State, and said that it was attempting to escape blame by dragging the name of the TDP chief into the issue.
Nageshwara Rao stated that he suspects the involvement of Rahul Gandhi in encouraging the growth of SKS Microfinance. He said the TDP has substantial evidence to prove this if the Congress is willing to order a probe into the issue.
The TDP leader also stated that he is ready for a public debate on the issue with Rahul Gandhi at any place and at any time.
Nageshwara Rao pointed out that SKS had started its business with Rs. 152 crore in 2006 and recorded a turnover of Rs. 7,618 crore by March 2010.
He wondered how could this have been possible unless by charging exorbitant interest rates from villagers and SHG members.
He demanded Rahul Gandhi's apology for encouraging such financial firms and for throwing families into debt traps that force them to commit suicides unable to repay their loans.
Courtesy: INN
filed in:Microfinance, Microfinance Institutions, SKS Microfinance, TDP, Nama Nageshwara Rao, Rahul Gandhi