Hyderabad: A man has approached the manager of Canara Bank, Nallkunta branch in Hyderabad, for a loan of Rs 500,000, to contest an election. K Venkata Narayana says he wants to fight the Warangal Lok Sabha by-election next month as an independent candidate. The seat is currently vacant after sitting legislator Kadiam Srihari resigned in June to become the deputy Chief Minister of Telangana.
A social activist, Narayana runs an NGO called Jana Sankshema Sangam, and had contested the Amberpet assembly seat in 2014 with no success. “If banks give loans to contest election, socially conscious people like me who don't have the necessary financial resources can also hope to contest elections. Isn't that what democracy should be about?” he asked. “We need money to pay for the deposit, for campaigning, for pamphlets and posters. The government should help people like us.” The bank has referred the application to their head office, seeking direction, as there is no precedent of giving loans to contest elections. Narayana has written a letter to the Prime Minister asking to move a Bill in the Parliament that would allow loans to individuals for contesting elections. He says that this step will also help to ensure white money comes into the funding of elections.
