Bengaluru, Jan. 31 -- The state government will soon introduce a stringent law to curb harassment by microfinance institutions, chief minister Siddaramaiah said on Thursday.

Chairing a high-level meeting in Krishna, official residence of the chief minister, to address public grievances against microfinance firms, Siddaramaiah directed officials to strengthen legal provisions to protect borrowers from coercive recovery methods.

"It was decided that the (existing) ordinance we have issued to regulate microfinance institutions will be thoroughly reviewed, and a more robust law will be implemented at the earliest," he said. He added that a senior team from the law and finance departments would be constituted to ensure the law's swift enforc...