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.

Dec 20, 2024 - 04:30

Government plans law to ban unregulated lending

Join our WhatsApp Community to receive travel deals, free stays, and special offers!
- Join Now -

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.