Microfin ordinance sent to Karnataka Guv, proposes up to 10-year jail for violation
Bengaluru, Feb 4 (PTI): Aimed at protecting borrowers from harassment by microfinance institutions (MFIs), the Karnataka government has drafted an ordinance, with penal provisions, including a jail term up to ten years, and fine as high as Rs five lakh for violation.
Confirming this, State Home Minister G Parameshwara on Tuesday said, the Karnataka Micro Finance (Prevention of Coercive Actions) Ordinance 2025 has been sent to Governor Thaawarchand Gehlot for his assent.
"It was three years (in initial draft), now we have increased it. Fine has also been increased to five lakh. This is to ensure that the heat of the law is felt (by violators). If a law is made with perfunctoriness just like that, such incidents won't stop. Hence, the fine (amount) and imprisonment (period) has been increased, so that it in a way, becomes a deterrent," Parameshwara said, responding to a question about punishment being increased to ten years imprisonment.
Speaking to reporters here, he said, "The Governor was out of town, and once he is back he may give an assent after looking at it."
The government decided on promulgating the ordinance, in response to a spate of suicides and multiple complaints from various parts of the state against predatory loan recovery methods by microfinance firms.
Responding to a question, the home minister said, after the first draft of the ordinance was prepared, it was discussed in the government about MFI going to court against it, and the chief minister had instructed the Law department to take all the necessary precautions in this regard.
"This caused a slight delay. Now keeping everything in mind, a draft has now been prepared...," he added.
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West Bengal Class 12 results declared; overall pass percentage 91.23%
Kolkata (PTI): The West Bengal Council of Higher Secondary Education on Thursday announced the results of its Class 12 examination, which recorded an overall pass percentage of 91.23 per cent.
The results included those of the candidates from the fourth semester under the new system, supplementary candidates of the third semester, and students appearing under the old annual examination pattern.
While the pass percentage among girls stood at 92.47 per cent, boys recorded a pass percentage of 89.71 per cent.
As many as 64 candidates -- including 56 boys and eight girls -- featured in the top 10 list. Adrito Pal of Narendrapur Ramakrishna Mission Vidyalaya secured the first rank in the state by scoring 496 out of 500 marks.
Jishnu Kundu of Ramakrishna Mission Vidyapith Purulia and Ritobrata Nath of Narendrapur Ramakrishna Mission Vidyalaya secured the second rank with 495 marks each.
Candidates dissatisfied with their fourth-semester results would be allowed to reappear in the examination next year after surrendering the current year's result.
According to official data, a total of 7,10,811 candidates appeared for the higher secondary examination this year.
Of them, 6,35,864 students appeared in the final semester examination under the new system, 59,452 candidates took the supplementary examination for the second semester, and 15,495 students appeared under the old annual examination pattern.
Chief Minister Suvendu Adhikari congratulated all students who have passed the higher secondary examination in a post on X.
"Your hard work, perseverance, and self-confidence have taken the form of success. May the success inspire you to dream even bigger on the path ahead. I wish that your future be bright, that you get success in every field and that you bring glory to your family, society, and state," he wrote on social media.
