Bengaluru: Karnataka Chief Minister Siddaramaiah on Sunday said the police would take action against microfinance companies in the state if complaints are filed regarding alleged harassment in the recovery of loans.
He also mentioned that his government would establish helplines for people to report any harassment.
Addressing reporters here, he said, “If a complaint is received, we will take action against the microfinance companies. We will also set up helpline numbers for people to report any issues with these companies. I have instructed police officials to act promptly upon receiving a complaint.”
The CM’s statement follows his announcement on Saturday that the government would amend existing laws related to money lending and introduce new legislation to safeguard the interests of genuine borrowers.
The announcement comes in the wake of reports of people dying by suicide and protests by women against the torturous microfinance companies across the state.
