Nanjangud: Despite stern warnings from the State Government to microfinance companies against harassing borrowers over loan repayments, two individuals in Nanjangud taluk have tragically taken their own lives.

The deceased have been identified as Jayasheela (53) of Ambale village and Krishnamurthy (35) of Malkundi village.

The Hullahalli Police have registered FIRs against seven microfinance companies in connection with the incidents.

Jayasheela had borrowed Rs. 3 lakh from two finance firms, with a monthly EMI of Rs. 8,500. She later took an additional Rs. 60,000 loan from the same firms, raising her total EMI to Rs. 15,000, including a loan taken in her daughter’s name.

The situation worsened when a cow she had purchased with the loan funds died, cutting off her primary income from cattle rearing. Struggling to make ends meet and unable to repay the EMIs, she faced relentless harassment from finance agents.

On Sunday, unable to bear the pressure, Jayasheela consumed pesticide tablets meant for killing worms in jowar crops. She was found unwell in her agricultural field and rushed to a hospital by villagers but succumbed on the way. Following a complaint by her son Rajesh, the Hullahalli Police have registered an FIR against two microfinance companies.

In a separate incident, Krishnamurthy, a centring worker from Malkundi village, hanged himself at his home on Monday.

He had taken loans amounting to several lakhs in his wife’s name to build a house. Struggling to meet the EMIs, he had pledged his wife’s jewellery and motorbike to ease the financial strain. Last month, when he delayed a payment, finance agents threatened to seize his house if the EMI was not cleared.

With an EMI payment due on Monday and no way to arrange the required funds, Krishnamurthy returned home and ended his life. Acting on a complaint filed by his wife, Latha, the Hullahalli Police have registered an FIR against five microfinance companies.

Protests erupt

Following the deaths, members of the Karnataka Rajya Raitha Sangha and Dalit Sanghatanegala Okkuta staged a protest outside the general hospital in Nanjangud. They demanded compensation of Rs. 50 lakh for the bereaved families and strict action against the microfinance firms responsible for driving the victims to such distress.