BENGALURU: Home Minister Dr G Parameshwara said the police have been directed to file suo motu cases against those micro financiers found to be harassing borrowers. On Wednesday, a meeting was held with finance department officials to discuss the draft ordinance to protect interest of borrowers from erring microfinance companies, which is expected to be tabled in the cabinet on Thursday.
A meeting was held by Parameshwara and Law Minister HK Patil to discuss the Karnataka Microfinance Prevention of Coercive and Inhuman Action, 2025, Bill. The state government is planning to bring the Bill to protect borrowers from the harassment of microfinance firms.
Speaking to reporters, Parameshwara said the government has taken the issue of micro financiers harassing borrowers very seriously. The CM has insisted that the matter will be dealt with at the earliest.
The home minister said the poor are availing loans, and these firms are taking advantage of that and harassing them. Unable to face the hardship, people are also contemplating suicide and even fleeing their towns.
“We cannot wait till the session to bring the law. We have discussed many issues at the meeting, about which the CM will be apprised,” he added.