Heading on to political news and controversies... The State governor E.S.L Naraimhan on Friday, gave his assent to the ordinace approved by state cabinet to rein unlawful activitities of Micro Finance firms.

To check the rising reports of coercive practices of such institutions, the government has approved a special ordinance to control interest rates charged by lenders. Anyhow, The objective of the ordinance is to clamp down on unregulated lending.

Addressing the media, state minister for rural development, Vatti Vasanth Kumar said that the regulations would be issued in such a way that only single woman should apply for loan.

Published Date : Saturday, OCT 16, 12:30PM IST

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