Karnataka’s new Ordinance and the state of microfinance sector
On February 12, 2025 after days of deliberations, the Karnataka government promulgated an Ordinance to crack the whip on unregistered and unlicensed microfinance institutions (MFI) and moneylending agencies in the State.
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The Hindu
On February 12, 2025 after days of deliberations, the Karnataka government promulgated an Ordinance to crack the whip on unregistered and unlicensed microfinance institutions (MFI) and moneylending agencies in the State. The new legislation aims to protect economically vulnerable groups and individuals from exorbitant interest rates and coercive means of loan recovery.
Why did such an Ordinance become necessary? What are its key features? What are the concerns raised by microfinance institutions?
Read full story here: https://www.thehindu.com/news/national/karnataka/how-does-karnatakas-new-ordinance-propose-to-crackdown-on-microfinance-institutions/article69229058.ece#:~:text=On%20February%2012%2C%202025%2C%20after,agencies%20or%20organisations%20that%20employ
Reporting: Nalme Nachiyar, Sharath Srivatsa
Video & Editing: Ravichandran N
