BULA Bill Fails to Curb Predatory Lending, Usurps Power of States: Peoples Commission

New Delhi: The Peoples Commission on Public Sector and Public Services (PCPSPS), a collective of eminent academics, jurists, erstwhile administrators, trade unionists and social activists, has termed the Banning of Unregulated Lending Activities (BULA) Draft Bill as a threat to state government autonomy as well doing very little for poor people from falling into debt traps. In a statement, the PCPSPS demanded a strong model law, as seen in some states, to address exploitative lending practices.