Business and Finance
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Business and Finance
Source : (remove) : Business Line
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Thu, December 19, 2024
[ Thu, Dec 19th 2024 ]: Business Line
New Bill proposes jail, stiff fine for unregulated lending
[ Thu, Dec 19th 2024 ]: Business Line
Veefin Group raises ?136 cr for product developme .. acquisitions; aims a further ?155 cr by Jan 2025
Wed, December 18, 2024
[ Wed, Dec 18th 2024 ]: Business Line
Bank of Baroda approves ?10,000 crore bond issuance for infrastructure and affordable housing
Tue, December 17, 2024
[ Tue, Dec 17th 2024 ]: Business Line
Zomato's global finance head Hemal Jain quits
Mon, December 16, 2024
[ Mon, Dec 16th 2024 ]: Business Line
Share Market Highlights: Sensex dips 384 points, Nifty settles below 24,700; India VIX up 7%
Sun, December 15, 2024
[ Sun, Dec 15th 2024 ]: Business Line
Public sector banks record net profit of ?85,520 crore in first half FY2024-25
Fri, December 13, 2024
[ Fri, Dec 13th 2024 ]: Business Line
Rekha Jhunjhunwala and RARE Enterprises-backed Inventurus Knowledge Solutions IPO enters Day 2
Thu, December 12, 2024
[ Thu, Dec 12th 2024 ]: Business Line
Zoho Finance and Operations suite sees 50% revenue growth in India
[ Thu, Dec 12th 2024 ]: Business Line
Mahindra Susten's Martial Solen secures ?1,448 crore loan
Wed, December 11, 2024
[ Wed, Dec 11th 2024 ]: Business Line
Trial in 28% PMLA cases pending in courts
[ Wed, Dec 11th 2024 ]: Business Line
ED's conviction rate is less than 5% in money laundering cases
[ Wed, Dec 11th 2024 ]: Business Line
UGRO Capital receives patent for its proprietary credit scoring model
[ Wed, Dec 11th 2024 ]: Business Line
Veranda Learning to raise ?250 crore via preferential issue for strategic acquisitions
[ Wed, Dec 11th 2024 ]: Business Line
Avanti Finance secures ?120 crore funding to expand loan book
[ Wed, Dec 11th 2024 ]: Business Line
Nisus Finance Services IPO listing today on BSE-SME: Price band of ?170-180
Tue, December 10, 2024
[ Tue, Dec 10th 2024 ]: Business Line
Nisus Finance Services listing today on BSE-SME
[ Tue, Dec 10th 2024 ]: Business Line
RBI New Governor Live News: Sanjay Malhotra to be new RBI Governor, will replace Shaktikanta Das
Sun, December 8, 2024
[ Sun, Dec 08th 2024 ]: Business Line
IRDAI, DFS support proposal for lowering GST on h .. zens, micro-insurance and term insurance policies
[ Sun, Dec 08th 2024 ]: Business Line
IRDAI, DFS support proposal for lowering GST on h .. micro-insurance policies, term insurance policies
[ Sun, Dec 08th 2024 ]: Business Line
Parliamentary panel advocates automated compensation process for banking fraud victims
Sat, December 7, 2024
[ Sat, Dec 07th 2024 ]: Business Line
Goldman decides to leave world's top climate alliance for banks
[ Sat, Dec 07th 2024 ]: Business Line
Two veterans start a health insurance firm: Should you take their cover?
Fri, December 6, 2024
[ Fri, Dec 06th 2024 ]: Business Line
RBI proposes credit line access on UPI for Small Finance Banks
[ Fri, Dec 06th 2024 ]: Business Line
Share Market Highlights: Sensex, Nifty dip; RBI's CRR cut eases liquidity worries
[ Fri, Dec 06th 2024 ]: Business Line
Fusion Finance plans ?800 crore rights issue to boost capital

New Bill proposes jail, stiff fine for unregulated lending

Proposed BULA Bill aims to ban unregulated lending activities, with penalties including jail terms and fines up to ₹1 crore.
The Indian government has introduced a new bill aimed at regulating digital lending practices by proposing amendments to the Chit Funds Act, 1982, and the Banning of Unregulated Deposit Schemes Act, 2019. This legislative move seeks to classify unregulated lending as a cognizable and non-bailable offence, thereby enhancing the legal framework to curb fraudulent digital lending activities. The bill addresses the growing concerns over the exploitation of borrowers by unregulated digital lending apps, which often charge exorbitant interest rates and use coercive recovery methods. By making these offences cognizable, law enforcement agencies will have the authority to arrest without a warrant, and the non-bailable aspect means that bail will not be a matter of right, aiming to deter potential offenders and protect consumers from predatory lending practices.

Read the Full Business Line Article at:
[ https://www.thehindubusinessline.com/economy/govt-proposes-fresh-bill-to-treat-unregulated-lending-as-cognizable-and-non-bailable-offence/article69004733.ece ]