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MFI Ordinance will be sent back to Governor with clarifications, says Karnataka Home Minister

Home Minister G. Parameshwara said on Saturday that the government would address the issues flagged by Governor Thaawarchand Gehlot regarding Karnataka Micro Finance Ordinance, 2025, and send it back to him for assent. Following cases reported from across Karnataka of Microfinance Institutions allegedly harassing defaulters, the Karnataka government had drafted the Ordinance with some stringent norms and sent it to the Governor for assent. Citing penal provisions, including jail term of up to 10 years and fine of ₹5 lakh for violations, the Governor observed that they were excessive. Responding to the Governor’s observation regarding a higher fine, the Home Minister said: “The fine is imposed on those who commit wrong, not everyone.

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