Maharashtra Minister Meghna Sakore-Bordikar has directed state officials to enforce Reserve Bank of India guidelines on private moneylenders and microfinance institutions. The directive follows concerns over pressure on borrowers and aims to stop coercive loan recovery practices.
The state has stepped up scrutiny of lenders and will prioritise crop loans. The government has also assured families of two deceased farmers of assistance.
The minister's office linked the action to borrower distress and the deaths, ordering officials to implement RBI recovery norms across private lending and microfinance operations in Maharashtra.
