Government plans law to ban unregulated lending
India's central government has drafted legislation to combat predatory lending practices by unregulated entities, including digital platforms. The proposed law introduces penalties of up to seven years imprisonment for illegal lenders and up to 10 years for those engaging in harassment and unlawful recovery tactics.
India's central government has drafted legislation to combat predatory lending practices by unregulated entities, including digital platforms. The proposed law introduces penalties of up to seven years imprisonment for illegal lenders and up to 10 years for those engaging in harassment and unlawful recovery tactics.
