Will amend law to rein in microfinance companies: Karnataka CM Siddaramaiah
Karnataka Chief Minister Siddaramaiah on Saturday said the state government would amend the existing laws related to money lending business and introduce new legislation to protect the interest of the genuine borrowers. In the wake public outrage against the alleged harassment by micro-finance companies to recover money from borrowers, Siddaramaiah chaired an emergency meeting with his deputy D K Shivakumar, Revenue Minister Krishna Byre Gowda, Home Minister G Parameshwara, Law Minister H K Patil, senior government and top police officials.
Budget with ET
Budget 2025: A CFO’s playbook for operational excellence and long-term growth
Rising Bharat may need to take center stage for India’s game-changing plans
Will Indian Railways accelerate to global standards with govt’s budgetary allocation?
Representatives of the microfinance companies association, regional officers of the Reserve Bank of India and NABARD officials were also present.
Later, briefing reporters, the CM said he took the opinion of the microfinance companies as well as the RBI officials.
«After taking their view, we told them that we won't say not to give loan or do not recover money from borrowers but while recovering money you should not torture and harass people,» Siddaramaiah said.
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Basics of Generative AI: Unveiling Tomorrows Innovations
By — Metla Sudha Sekhar, IT Specialist and
