Wed Jan 29 21:08:25 IST 2025: **Karnataka Officials Crack Down on Microfinance Harassment**
**Mysuru, Karnataka, January 29, 2025** – Deputy Commissioners across Mysuru, Mandya, and Kodagu districts have launched a crackdown on microfinance institutions engaging in harassment tactics for loan recovery. Following meetings with representatives from these institutions, officials issued phone numbers for public complaints regarding harassment. These numbers include 1077 or 0821-2423800 for Mysuru, 08232-224655 for Mandya, and 08272-228330 (Police Control Room) or 08272-221077 (Deputy Commissioner’s Control Room) for Kodagu.
Mysuru Deputy Commissioner G. Lakshmikant Reddy warned institutions against lending beyond borrowers’ repayment capacity and emphasized adherence to Reserve Bank of India (RBI) guidelines. He threatened criminal charges against companies engaging in harassment. Mysuru City Police Commissioner Seema Latkar added that legal action will be taken against institutions employing agents who resort to psychological pressure tactics.
Similar actions were taken in Mandya and Kodagu, where Deputy Commissioners empowered police to file FIRs against harassing institutions and issued strict warnings against home visits for loan recovery after 5 p.m. The officials stressed the importance of responsible lending practices and compliance with RBI regulations.
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