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• Thu, December 19, 2024

by: Business Line

New Bill proposes jail, stiff fine for unregulated lending

by: Business Line

Veefin Group raises ?136 cr for product development and acquisitions; aims a further ?155 cr by Jan 2025

by: Business Line

Veranda XL partners with SRM institute for CA coaching

• Wed, December 18, 2024

by: Business Line

Bank of Baroda approves ?10,000 crore bond issuance for infrastructure and affordable housing

• Tue, December 17, 2024

by: Business Line

India's GCC base grew around 16 per cent in 2024, hired 20 per cent more people

by: Business Line

Share Market Highlights: Sensex drops over 1,000 points; Nifty sinks below 24,350 on global cues

by: Business Line

Zomato's global finance head Hemal Jain quits

Zomato's global finance head Hemal Jain has stepped down from her position to pursue other opportunities. The company informed about this development in a BSE filing on December 16 as a disclosure of resignation of a senior personnel management member.

• Mon, December 16, 2024

by: Business Line

Share Market Highlights: Sensex dips 384 points, Nifty settles below 24,700; India VIX up 7%

• Sun, December 15, 2024

by: Business Line

Public sector banks record net profit of ?85,520 crore in first half FY2024-25

by: Business Line

Subabul seeds and insulin resistance management

by: Business Line

Shapeshifting, misfit materials that power up tech advancement

• Sat, December 14, 2024

by: Business Line

IIT climate assessment report flags flood, drought risk in 11 Bihar, Kerala, Odisha districts

• Fri, December 13, 2024

by: Business Line

How ULIPs are different from MFs

by: Business Line

Rekha Jhunjhunwala and RARE Enterprises-backed Inventurus Knowledge Solutions IPO enters Day 2

by: Business Line

CCI Cracks Down on Table Tennis Federation for Anti-Competitive Conduct

• Thu, December 12, 2024

by: Business Line

Zoho Finance and Operations suite sees 50% revenue growth in India

by: Business Line

Mahindra Susten's Martial Solen secures ?1,448 crore loan

• Wed, December 11, 2024

by: Business Line

Trial in 28% PMLA cases pending in courts

by: Business Line

ED's conviction rate is less than 5% in money laundering cases

by: Business Line

UGRO Capital receives patent for its proprietary credit scoring model

by: Business Line

Veranda Learning to raise ?250 crore via preferential issue for strategic acquisitions

by: Business Line

bl interview. AI can help India leapfrog and close the gap with large economies, says Blackrock's Ben Powell

by: Business Line

Avanti Finance secures ?120 crore funding to expand loan book

by: Business Line

Nisus Finance Services IPO listing today on BSE-SME: Price band of ?170-180

• Tue, December 10, 2024

by: Business Line

Nisus Finance Services listing today on BSE-SME

by: Business Line

RBI New Governor Live News: Sanjay Malhotra to be new RBI Governor, will replace Shaktikanta Das

• Mon, December 9, 2024

by: Business Line

SM Krishna: A rare politician who excelled in state and national leadership roles

• Sun, December 8, 2024

by: Business Line

IRDAI, DFS support proposal for lowering GST on health policies for senior citizens, micro-insurance and term insurance policies

by: Business Line

SkaSports and Angkor Tiger join hands to build a football stadium in Cambodia

by: Business Line

IRDAI, DFS support proposal for lowering GST on health policies for senior citizens, micro-insurance policies, term insurance policies

by: Business Line

Parliamentary panel advocates automated compensation process for banking fraud victims

• Sat, December 7, 2024

by: Business Line

Goldman decides to leave world's top climate alliance for banks

by: Business Line

Two veterans start a health insurance firm: Should you take their cover?

• Fri, December 6, 2024

by: Business Line

RBI proposes credit line access on UPI for Small Finance Banks

by: Business Line

Share Market Highlights: Sensex, Nifty dip; RBI's CRR cut eases liquidity worries

by: Business Line

Fusion Finance plans ?800 crore rights issue to boost capital

• Thu, December 5, 2024

by: Business Line

ISRO's PSLV-C59 successfully launches ESA's PROBA-3 satellites in formation flying milestone

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 â‚¹1 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

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