Top MFI bodies plan to move Supreme Court over Assam's micro-loan Bill

MFIN, Sa-Dhan, banking association in informal talks; RBI to be made party

Topics
MFIs | RBI | Assam

Raghu Mohan  |  Mumbai 

The Assam government’s passage of the Micro Finance Institutions (Regulation of Money Lending) Bill, 2020, has reached a flashpoint. Leading industry bodies are weighing the option of filing a public interest litigation in the Supreme Court by making the banking regulator a party to it.

The Microfinance Institutions Network (MFIN), Sa-Dhan, and the Indian Banks’ Association are in informal consultations on the legal options available to them after the passage of the Bill. The industry bodies have also reached out to the Prime Minister’s Office, Department of Financial ...

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First Published: Tue, January 12 2021. 06:10 IST
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