Karnataka Prohibition of Charging Exorbitant Interest (Amendment) Bill, 2025

Mar 11, 2025 | by TeamLease RegTech Legal Research Team

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Industry Specific ComplianceThe Government of Karnataka on March 05, 2025, notified the Karnataka Prohibition of Charging Exorbitant Interest (Amendment) Bill, 2025 to further amend the Karnataka Prohibition of Charging Exorbitant Interest Act, 2004.

The following has been stated-

•For section 3 of the 3. Prohibition of charging exorbitant interest and using coercive action shall be substituted.

•After section 4, 4A. Power to cancel or suspend Registration and 4B. Lending Norms shall be inserted.

[LA Bill No. 03 of 2025]

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