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Patna,(BiharTimes): The Bihar government is planning to enact a legislation to regulate and control Micro Finance Companies in the state.
Replying to a short-notice question of BJP member Tar Kishore Prasad in the state Assembly on Monday Deputy Chief Minister Sushil Kumar Modi said the law would be enacted on the pattern of one made in Andhra Pradesh. |
He said that the Katihar superintendent of police was probing the case where a Micro Finance Company had allegedly subjected several debtors to inhuman torture for realisation of a plot of land under Dandkhora block in the district.
Modi, who also holds finance portfolio, said there was no guideline set by the RBI to rein in the activities of such financial institutions and added that the Centre is planning to bring a Bill for regulating them.
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