💨 Abstract

Karnataka Minister H K Patil has announced that a draft ordinance to protect borrowers from microfinance companies, accused of inhumane recovery methods, has been prepared and sent to Chief Minister Siddaramaiah for approval. The ordinance aims to stop the torturous recovery of money. The move comes after several suicides and displacements due to microfinance company atrocities.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖