The act provides that money lending cannot be done without a license, and the government may, from time to time, specify the maximum rate of interest chargeable by money lenders for any local area.
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Associated Press Sept. 13, 2018 1 Family's Dilemma to Evacuate or Not Comes Down to Money Family's dilemma to stay home or flee from Hurricane Florence comes down to Hyderabad: The Andhra Pradesh Assembly today passed a landmark legislation that will regulate money lending and protect the interests of borrowers, particularly those availing of micro finance.
The AP Money Lenders and Accredited Loan Providers Act, 2010, saw the light of the day 13 years after it was first introduced in the state Assembly. Hyderabad: The Andhra Pradesh government will come up with a stringent moneylending Act to control rampant call money and high interest lending in the state. This was announced by chief minister Chandrababu Naidu during his statement in the State Assembly on the call money controversy on Friday.
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(AP PhotoRoss D. Franklin) Under the rule, lenders will be required to verify a borrowers ability to repay before making a loan.
The Clean Water Act