Assam Finance Minister Himanta Biswa Sarma tables bill to protect people from high-interest money lending agencies
The new bill tabled by Dr Himanta Biswa Sarma will “create a mechanism to regulate the microfinance institutions or money lending agencies or organisations”
| 29 Dec 2020 5:56 AM GMT
Guwahati: The government of Assam introduced a bill in the assembly on Monday, which seeks to protect the economically vulnerable individuals and groups from the hardship of being charged exorbitant interest rates and coercive means of recovery by money lending agencies or microfinance institutions.
Assam Finance Minister Dr Himanta Biswa Sarma tabled The Assam Micro Finance Institutions (Regulation of Money Lending) Bill, 2020, on the first day of Winter session of the assembly. The bill proposes to create an effective mechanism to regulate the microfinance institutions or money lending agencies or organisations .
Over 50 encroachment bids by 4 neighbouring states: Assam Minister
By IANS |
Published on
Mon, Dec 28 2020 22:12 IST |
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Chandra Mohan Patowary. (File Photo: IANS). Image Source: IANS News
Guwahati, Dec 28 : Assam s territory was encroached upon 56 times this year by four neighbouring states, the state Assembly was informed on Monday.
Parliamentary Affairs Minister Chandra Mohan Patowary, replying to a question of opposition leader Debabrata Saikia, said that neighbouring Arunachal Pradesh, Meghalaya, Nagaland and Mizoram intruded into Assam s territory in 11 districts. To maintain the status quo or to recover the invaded lands, the state government has written many letters to the respective states and the Centre and held meetings with those states, Patowary said on behalf of Chief Minister Sarbananda Sonowal, who holds the Home portfolio.
The Assam government on Monday introduced a Bill in the assembly seeking to protect economically vulnerable groups and individuals from the hardship of usurious interest rates and coercive means of recovery by micro finance institutions or money lending agencies. Tabling The Assam Micro Finance Institutions (Regulation of Money Lending) Bill, 2020, on the first day of the Winter Session of the assembly, Finance Minister Himanta Biswa Sarma said that it proposes to create an effective mechanism to regulate the micro finance institutions or money lending agencies or organisations . On December 13, the Assam Cabinet had approved the proposal to reign in the micro finance entities that mostly give loans to women self help groups (SHG) at high rates.
Highlights
Assam cabinet on Sunday approved a proposal to close down all government-run madrasas and Sanskrit tols in state.
A bill in this regard will be tabled during the upcoming winter session of the state Assembly.
The winter session of the Assam Legislative Assembly is scheduled to start from December 28.
In a significant development, the Assam cabinet on Sunday (December 13) approved a proposal to close down all government-run madrasas and Sanskrit tols (schools) in the state.
Parliamentary Affairs Minister Chandra Mohan Patowary said that a bill in this regard will be tabled by BJP-led government in the state during the upcoming winter session of the state Assembly.
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