<strong>LHRM organizes one-day discourse on COVID-19, Microfinance crisis in Manipur </strong>

LHRM organizes one-day discourse on COVID-19, Microfinance crisis in Manipur

TMB Report

IMPHAL: A one day discourse on COVID-19 Pandemic and Microfinance Crisis in Manipur was organised by Lawyers for Human Rights, Manipur (LHRM) at Manipur Press Club on Sunday.

The meeting was attended by LHRM, Executive Director Maisnam Kourouhanba Luwang; LOUSAL President, Mutum Churamani; Panthoibi Housing Finance Company Ltd Chairman & Managing Director, Thokchom Hemo Singh and United Committee Manipur (UCM) General Secretary, Khuraijam Athouba.

They expressed their desire for bringing settlements with positive conclusion claiming their acknowledgement over the issue that evolves from decentralization of financial involvement for the economic purposes ranging from micro to macro businesses into cracking down within channel of financial flows and about to be bankruptcy, which from the impact cause by global pandemic and would get probably affect almost all  the investors, beneficiaries and financial institutions in the state.

LHRM, Executive Director Kouruhanba Luwang stated that the meeting was held in the sense to dissolve resolutions which will be accepted by all the stakeholders who have been financially involved in the flows of the banking system across the state.

The meeting will help bring mutual understanding between the investors and beneficiaries ranging from micro finance and up to huge financially engagement banks across the state and bring about win-win situations, he added.

LHRM appealed to the Chief Minister of Manipur for inspections with proper close looks to all violations of norms and regulations within financial structures of all small, medium and large corporations that reflects the state’s economic activities and add burden to all the people, including the government.

Korouhanba Luwang further said that there are lots of companies and banks which had already begun trying to stay isolate, unresponsive to their investors and beneficiaries due to its broken down of financial flows and structure in major scales of financial crisis and people are suggested to be aware of such fraud and financial hoax.

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