Home » Lamjingba Finance is an enemy of the people: KCP MC

Lamjingba Finance is an enemy of the people: KCP MC

by Huirem Naresh
2 comments 2 minutes read

IT News

Imphal, July 28,

“Lamjingba Finance has become a space where thieves of this state are hoarding money and taking interest on the money they are investing there,” a statement by KCP MC said.

In this matter, Lamjingba Finance which is part of Lamjingba Group is not able to provide a satisfactory answer to the people, the outfit stated. Therefore, KCP MC has banned the activities of Lamjingba Finance, it said. The outfit has stopped the people from paying their loans and interests to this firm.

If anybody is found paying interest and loans to this private company, then KCP MC says that it is justified to take the same amount of money from the people who paid the money. The shutdown is not imposed on the media House, eco-Yu, Lamjingba Cabs and Dairy which are part of Lamjingba Group. KCP MC will stand for the poor peasants and workers of Manipur. Therefore, the outfit has decided not to ban the cab service thinking about the drivers employed in this service. Though it is the only sector which the outfit could easily attack but it has decided otherwise. There is no ban on the media house of this group. Regarding Lamjingba Dairy, the outfit should be made known about the investors involved in this dairy.

KCP MC also said that it has  banned a private bank at Sangakpam and if the outfit wanted money then it could have taken money and lifted the banned of this private bank. But the outfit is committed to stop these banks that are sucking the blood of the people. The outfit has taken this stand keeping in mind the suffering of the tolling masses of Manipur who are unable to pay the extravagant interest rate of the people, the statement added. The outfit is also investigating other private firms, the statement added. It also said that the outfit will ban any private bank which is taking more than two percent per month as interest.

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2 comments

Jacky July 28, 2019 - 4:04 pm

Please check other micro finance also and check stop payment marup, tender marup etc. There was no development for the poor people who are taking loan from such bank.

Reply
raj July 29, 2019 - 2:08 am

yes STOP PAYMENT MARUP AND TENDER MARUP where people pay their hard earned money and suddenly break up in the middle leaving those poor people helpless and ruined. PLease ban STOP PAYMENT MARUP AND TENDER MARUP.

Reply

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