Governor Thawar Chand Gehlot clears Karnataka microfinance ordinance

Bengaluru (Karnataka) [India], February 12 (ANI): Karnataka Governor Thawar Chand Gehlot signed the ordinance regarding the microfinance rules that the Karnataka government recently decided on at a Cabinet meeting, the chief minister's office said Wednesday.

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Earlier, the Governor had sent back the ordinance, saying that some important issues needed to be addressed.

The chief minister's office today said that the Karnataka government addressed those issues that were raised by Raj Bhavan.

"Today, the Governor of Karnataka signed the ordinance to curb the microphone-related issues in Karnataka," the CMO said.

Several families in Karnataka were allegedly abused by the microfinance companies in Karnataka. Those families had complained that microfinance company representatives were harassing them in the name of repayment.

Against that backdrop, the state government brought in the ordinance to safeguard the people. (ANI)

(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)