Deputy Commissioner of Mysuru G. Lakshmikant Reddy convened a meeting of representatives of microfinance institutions operating in the Mysuru district and directed them to mandatorily register themselves with the government.

As per the Karnataka Micro Loan and Small Loan (Prohibition of Coercive Actions) Ordinance 2025, all microfinance institutions must mandatorily register themselves with the government. To facilitate the process, the Deputy Registrar of Co-operative Societies, Mysuru district, has been appointed as the nodal officer, according to an official statement.

The institutions have been asked to obtain the prescribed application form from the Nodal Officer’s office, fill it up, and submit the same along with the necessary documents.

The microfinance institutions have been warned of strict legal action if any financial transactions take place without proper registration. The institutions can contact the Deputy Registrar of Co-operative Societies of Mysuru district for more details regarding the registration process, the statement noted.

The meeting held at Zilla Panchayat Auditorium was attended by the Chief Executive Officer of Mysuru Zilla Panchayat S. Hukesh Kumar and representatives of various microfinance institutions.