Ordinance toothless, would protect MFIs: Gali

Alleging that the ordinance issued by the state government on Micro Finance Institutions would protect the interests of firms, Telugu Desam Party spokesperson Gali Muddukrishnama Naidu on Monday stated that the Ordinance was issued at the behest of AICC general secretary Rahul Gandhi.

Talking to media persons at the NTR Trust Bhavan, Mr Muddukrishnama Naidu said the government brought in the ordinance following pressure mounted on it by the Congress leader Rahul Gandhi.

He said the Ordinance would not serve any purpose as it does not mention anything about fixing interest rates.

Mr Muddukrishnama Naidu alleged that both the Centre and state government were shielding the MFIs and protecting their interests.

He also said the TDP leaders from United Andhra Pradesh are discussing whether to stage a dharna before AICC president Sonia Gandhi’s residence in New Delhi.

The leaders statement’s assume importance in the wake of Telangana TDP forum plans to stage dharna on October 23 in front of Congress president Sonia Gandhi.