Mysore/Mysuru: The Co-operation Department has warned that legal action will be initiated against non-Banking financial institutions and pawn brokers if they are found charging the customers more interest than permitted.
In a Press release, G.R. Vijayakumar, Deputy Registrar of Co-operative Societies, said that the Department has been receiving complaints about non-Banking financial institutions and Pawn Brokers in Mysuru district charging customers a higher interest than stipulated by the Government. Hence, legal action will be initiated against such financial institutions and pawn brokers who charge a higher interest than stipulated.
