Will amend law to rein in microfinance companies: CM Siddaramaiah, ET LegalWorld
Karnataka Chief Minister Siddaramaiah on Saturday said the state government would amend the existing laws related to the money lending business and introduce new legislation to protect the interest of genuine borrowers. In the wake of public outrage against the alleged harassment by microfinance companies to recover money from borrowers, Siddaramaiah chaired an emergency meeting […]
Microfinance company VFS Capital applies for small finance bank licence, ET LegalWorld
VFS Capital, one of the oldest microfinance companies that operate in the country, has filed an application for a small finance bank licence, the Reserve Bank of India (RBI) said. The lender with a Rs 942 crore portfolio outstanding is seeking the licence for the second time after being rejected earlier in 2015. “During the […]