Vatti briefs Sonia about MFIs

Minister for Rural Development and Self Help Groups Vatti Vasanth Kumar on Thursday met Congress president Sonia Gandhi at 10, Janpath in New Delhi to brief her on the political situation in the state.

Talking to media persons after meeting the AICC chief, the Minister said he came to New Delhi to brief her over the prevailing political situation in the state.

According to sources, the Minister informed Ms Gandhi about the deaths caused due to arm-twisting methods of microfinance institutions in the recovery of loans from Self Help Group women and villagers.

Mr Vasanth Kumar also briefed Ms Gandhi over the Ordinance promulgated by the state government to regulate the MFIs and norms for their registration.

The Minister revealed that the Congress president expressed serious concern over the exorbitant interest rates charged by microfinance firms and assured to look into the issue after discussing it with Finance Minister Pranab Mukherjee and Reserve Bank of India Governor Dr D Subba Rao.

Reacting on attempts by the opposition in the state to link her and AICC general secretary Rahul Gandhi’s names to the MFI issue, Mr Vasanth Kumar stated that the Congress chief had expressed her strong displeasure.

Meanwhile, senior Congress leader and Rajya Sabha Member V Hanumantha Rao and Union Minister of State for Textiles Pannabaka Lakshmi also met Ms Gandhi separately.

Sources say that the Mr Hanumantha Rao briefed the Congress president of the dubious land dealings between the Andhra Pradesh Industrial Infrastructure Corporation and the Emaar Properties. He is believed to have demanded that the party chief order a probe into the dubious dealings.