Drought-Hit Mandya DC Halts Forcible Loan Recovery

The Hindu · india

Mandya Deputy Commissioner Kumar has directed banks and financial institutions to cease forcible loan recovery from farmers and the public due to prevailing drought conditions. All seven taluks in Mandya district were declared drought-hit, causing severe financial distress. Complaints indicated some institutions were pressuring borrowers for loan instalments. The DC cited government finance department and RBI guidelines, strictly prohibiting harassment or undue pressure on borrowers during this period. Financial institutions must ensure their staff comply, or face legal action.