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Karnataka Governor approves microfinance ordinance
short by / on Thursday, 13 February, 2025
Karnataka Governor Thaawarchand Gehlot approved the Karnataka Micro Loan and Small Loan (Prevention of Coercive Actions) Ordinance, 2025, on February 12, after the government clarified concerns. The ordinance, introduced due to suicides and complaints about aggressive loan recovery, includes penalties such as up to 10 years in jail and fines up to ₹5 lakh for violations.
read more at The South First