Razole MLA Deva Varaprasad has announced plans to summon officials from Shriram Finance Limited for talks, following a series of complaints regarding alleged coercive debt recovery practices by the company’s agents in the Razole Assembly constituency, Dr. B.R. Ambedkar Konaseema district. The announcement came after several borrowers shared their distressing experiences during a meeting with the MLA on July 18. Local police officials were also present at the meeting. "It has come to our notice that Shriram Finance has disbursed loans worth around ₹300 crore across Andhra Pradesh. Unfortunately, some borrowers have reportedly taken their own lives due to financial distress caused by aggressive recovery tactics," Mr. Varaprasad said. Responding to the concerns, the MLA stated that interest rates and repayment schedules of affected customers would be reviewed to offer relief where warranted. He also directed the police to increase vigilance and monitor the company’s recovery methods to ensure they adhere to legal and ethical standards. The proposed talks aim to provide a platform for affected borrowers to seek redress, while holding lending institutions accountable for their recovery practices.

Razole MLA plans talks with Shriram Finance officials over coercive debt recovery, addressing concerns of distressed borrowers in Andhra Pradesh

Razole MLA Deva Varaprasad announced plans to meet Shriram Finance officials to address allegations of coercive debt recovery practices in Andhra Pradesh, following reports of borrower distress and alleged fatalities linked to aggressive recovery tactics.