Dharwad DC Office Sets Up Helpline to Address Loan Recovery Harassment

Dharwad: In response to rising complaints of harassment by microfinance companies and private money lenders, the Dharwad Deputy Commissioner's office has launched a dedicated helpline for affected individuals. Those facing issues can reach out at 0836-2445508 or the toll-free number 1077 for assistance.

The move comes amid growing concerns over aggressive loan recovery tactics employed by microfinance institutions across Karnataka. Reports indicate that instances of harassment have led to distress among borrowers, with some even resorting to suicide. In light of these incidents, the state government is considering an ordinance to regulate microfinance companies and curb their exploitative practices.

Recently, Chief Minister Siddaramaiah chaired a high-level meeting with Deputy Commissioners (DCs) and Superintendents of Police (SPs) from various districts to address the escalating issue. The government is expected to announce stringent measures soon to tackle the menace and protect vulnerable borrowers.

For those affected, officials urge prompt reporting through the newly established helpline to ensure swift intervention.