Assam Micro Finance Institutions (Regulation of Money Lending) Bill, 2020

The Assam Micro Finance Institutions (Regulation of Money Lending) Bill, 2020 was passed by the Assam Assembly recently. Some of its key provisions include restrictions on deployment of the collection agents, coercive collection practices and door-to-door collections. It will also put a cap on the number of lenders per borrower as well as the overall loan outstanding. It also provides for three-month repayment moratorium in case of natural adverse events.