Incident that occured due to arbitrary interest-rate of moneylenders-usurers is heartbreaking and unbearable– CM Shri Chouhan

Chief Minister Shri Shivraj Singh Chouhan has said that yesterday’s incident which took place due to arbitrary interest being charged by usurers and moneylenders is heart breaking and unbearable. Taking this seriously, Chief Minister Shri Chouhan directed to take strict action against those indulging in usury. Chief Minister Shri Chouhan said that the activities of usurers and moneylenders would be closely monitored. Shri Chouhan was addressing an emergency meeting convened at his residence-office to control the illegal moneylending and usury activities. Chief Minister Shri Chouhan discussed about the provisions of Moneylenders Act and Scheduled Caste Loans Regulations. Chief Secretary Shri Iqbal Singh Bains, Additional Chief Secretary Home Dr. Rajesh Rajoura, Director General of Police Shri Vivek Johri and other officers were present in the meeting.

Chief Minister Shri Chouhan said that some people give loans without any license at arbitrary rates of interest and harass people mentally for recovery. Many times more money is charged than the money lended. There is a need to run a campaign to strictly curb such activities. There is no objection in respect of the licensed moneylenders, who provide loans at the rate of interest as per rules. But extorting money by giving loans and forcing people to commit suicide, is unbearable. Chief Minister Shri Chouhan directed to take strict action against the persons involved in the incident that happened recently.

Information of unregistered usurers and moneylenders be collectedhief Minister Shri Chouhan said that there is a law for the tribes in this regard. There is a need to campaign for such activities happening with other communities. All concerned departments should ensure coordinated and concrete action in this regard. Chief Minister Shri Chouhan said that it should be assessed how many persons are currently registered for lending money on interest. The information of unregistered persons who are conducting these activities should be collected. There is an arrangement of registration by urban bodies in urban areas and by Panchayats in rural areas.