https://www.taxtmi.com/news?id=36859 The Bill creates a statutory regime to prevent predatory loan recovery by requiring registration of MFIs and lenders, prohibiting coercive recovery methods including use of violence, private agents or forcible seizure of benefit related documents, and imposing enhanced penal sanctions with cognisable, non bailable offences. It establishes an ombudsman for mediation, empowers senior police officers to act suo motu, and confines civil recovery against vulnerable borrowers where unregistered lenders used coercive actions, defining protected categories of borrowers. en-us Mon, 10 Mar 2025 21:01:02 +0530 Mon, 10 Mar 2025 21:01:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=36859 The Bill creates a statutory regime to prevent predatory loan recovery by requiring registration of MFIs and lenders, prohibiting coercive recovery methods including use of violence, private agents or forcible seizure of benefit related documents, and imposing enhanced penal sanctions with cognisable, non bailable offences. It establishes an ombudsman for mediation, empowers senior police officers to act suo motu, and confines civil recovery against vulnerable borrowers where unregistered lenders used coercive actions, defining protected categories of borrowers. News - Mon, 10 Mar 2025 21:01:02 +0530 https://www.taxtmi.com/news?id=36859