The Government of Karnataka on March 05, 2025, issued the Karnataka Money Lenders (Amendment) Bill, 2025 further to amend the Karnataka Money Lenders Act, 1961.
The following has been stated: -
•In section 10 for the words “five years” the words “two years” shall be substituted.
•After section 15 the following new sections shall be inserted, namely,-
15-A.Settlement of disputes by Ombudsperson.
15-B.Grievances Redressal Forum.
•After section 38, the following shall be inserted namely,-
38A. Prohibition of using coercive action.
The detailed notification is given in the document below.
[Notification No. LA Bill No. 04 of 2025]
