💨 Abstract

Karnataka Governor Thaawarchand Gehlot has granted assent to the ordinance aimed at preventing harassment by microfinance companies towards their borrowers. The ordinance, enacted due to reports of suicides, home abandonment, and torture by recovery agents, includes penalties such as jail terms up to ten years and fines of up to Rs 5 lakh.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖