Nanjangud: Demanding the loan instalment be paid immediately on the spot, a representative of a private finance company allegedly assaulted a woman and her son at Chamalapura Hundi in Nanjangud. Those who were assaulted are 52-year-old Chennajamma and her son Chandru. They have been admitted to a hospital for treatment. It is learnt that Chennajamma…
Mysuru: Activists of Karnataka Rajya Raitha Sangha (KRRS) staged a novel protest here yesterday, by pasting the posters warning legal action against the micro- finance companies, indulging in harassing the people, leading to increase in suicide cases in the State. The protest was staged in front of various micro-finance firms, and the contents of the…
Bengaluru: Karnataka Governor Thaawarchand Gehlot has approved the Karnataka Micro Loan and Small Loan (Prevention of Coercive Actions) Ordinance, 2025, after receiving clarifications from the State Government. The Ordinance, aimed at regulating microfinance operations and preventing coercive loan recovery practices, was signed on Wednesday. The Chief Minister’s Office (CMO) confirmed the development, stating that the…
Karnataka to crack down on money-lenders charging exorbitant interest rates Bengaluru: In a decisive move to curb the harassment of borrowers by microfinance institutions and money-lenders, the Karnataka Government is set to enforce stricter regulations, including a 10-year prison term for charging exorbitant interest rates. The Department of Co-operation is preparing amendments to existing laws…
Bengaluru: Even as the harassment by money-lenders and Microfinance Institutions (MFIs) during loan recovery continues, the Karnataka Government has proposed a three-year imprisonment and other strictures for microfinance companies under a Law it has drafted to protect borrowers from harassment. The State Cabinet on Thursday authorised Chief Minister Siddaramaiah to finalise the draft of the…
Leaders warn of massive protest, demand compensation to family of deceased Periyapatna: A 37-year-old man, who had reportedly consumed poison about four days ago following alleged harassment from microfinance companies and admitted to K.R. Hospital in Mysuru, has breathed his last at the hospital. The deceased is Subramanya, a resident of Basaveshwaranagar, Bettadapura in Periyapatna…
Mandya: Two persons including a woman in Mandya district have committed suicide following alleged harassment from the representatives of microfinance companies. Those who ended their lives are Sanjay (34), a young farmer from Dugganahalli village, Malavalli taluk and Prema (52), a resident of Konnapura village near Halagur, Malavalli taluk, both in Mandya district. It is…
Nanjangud: Despite stern warnings from the State Government to microfinance companies against harassing borrowers over loan repayments, two individuals in Nanjangud taluk have tragically taken their own lives. The deceased have been identified as Jayasheela (53) of Ambale village and Krishnamurthy (35) of Malkundi village. The Hullahalli Police have registered FIRs against seven microfinance companies…
CM Siddaramaiah meets Micro Finance Institutions; asks them to adopt fair business practices Bengaluru: Amid growing outrage, particularly among the rural population, over the coercive tactics used by Micro Finance Institutions (MFIs) for loan recovery, Chief Minister Siddaramaiah convened a meeting with MFI representatives at his official residence, Krishna, in Bengaluru this morning. Siddaramaiah urged…
Nanjangud: Strongly condemning the high rate of interest charged by Microfinance companies and forcible actions for recovery of loans, farmers under the banner of KRRS staged a demonstration in front of Tahsildar Office in Nanjangud town on Wednesday. Addressing the protestors, KRRS President Badagalapura Nagendra said that Microfinance companies have been harassing the farmers and…
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