Karnataka new ordinance and microfinance sector state
On February 12, 2025, after the days of deliberations, the Government of Karnataka promoted an ordinance to crack the whip on unregistered and licensed microfinance institutions (MFIs) and Moneying agencies in the state. , Video Credit: The Hindu
On February 12, 2025, after the days of deliberations, the Government of Karnataka promoted an ordinance to crack the whip on unregistered and licensed microfinance institutions (MFIs) and Moneying agencies in the state. The aim of the new law is to protect economically weaker groups and individuals from excessive interest rates and forced means of credit recovery.
Why did such an ordinance become necessary? What are its main features? What are the concerns raised by microfinance institutions?
Read full story Here.
Reporting: Nalme Nachiyar, Sharath Shrivats
Video and editing: Ravichandran n
Published – February 19, 2025 04:11 pm IST
