Assam govt to bring new law to control micro finance firms ...Middle East

Devdiscourse - Opinion
source : Devdiscourse ( Middle East ) () 36
The Assam government on Sunday approved a proposal to bring in a new legislation for controlling the micro finance firms, which charge exorbitant interests from borrowers, as per the RBI guidelines. A meeting of the state cabinet, chaired by Chief Minister Sarbananda Sonowal, decided to reign in the micro finance entities, who mostly give loans to women self help groups at high rates, Parliamentary Affairs Minister Chandra Mohan Patowary told reporters here.

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