Money Lending Laws In Kerala

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Description
Money-Lenders Act was enacted for controlling the business of money lending in the State of Kerala. Kerala is a consumerist State. Laymen aspire to have better living for which they borrow money. The easiest way is to borrow money is by pledging gold. Many a times the interest charged by the lenders are unreasonable and exorbitant. Government wanted to have a regulatory and statutory control over the money lending business which is achieved through the Kerala Money-Lenders Act. It is only when the law enforcing authority keeps a strict vigil that the provisions of Act can be enforced in its letter and spirit.
Like Kerala, many other States have also enacted money lending laws applicable to their State. Money lending business is one of the oldest business ever since the man has started trade and commerce. As we all know, no business can be established and run without the aid of funds which is usually borrowed either from the organised lenders like the Banks or the financial institutions. Right from the petty traders to large scale businessmen, require funds for the smooth running of their business. As it is normally seen that for borrowing money from Banks and financial institutions there arises much documentation work. But borrowing money from the money lenders either by pledging gold or some other valuable, movable or immovable property requires very less procedural hurdles. This could be one of the reasons why money lending business is flourishing in consumerist State like Kerala.
In this book I have incorporated the Kerala Money-Lenders Act, 1958, Kerala Money-Lenders Rules, 1964, Kerala Prohibition of Charging Exorbitant Interest Act, 2012, Prize Chits and Money Circulation Schemes (Banning) Act, 1978, Prize Chits and Money Circulation Schemes (Banning) Kerala Rules, 1979, Reserve Bank of India Act, 1934 (Extracts). I have also given a comprehensive index for easy reference. I hope that this book will be of immense use to the Lawyers, Courts, the businessmen, traders etc.
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Contents
PART 1
1.   The Kerala Money-Lenders Act, 1958
2.   The Kerala Money-Lenders Rules, 1964
3.   The Kerala Prohibition of Charging Exorbitant Interest Act, 2012
4.    Kerala Protection of Interests of Depositors in Financial Establishments Act, 2013
PART 2
5.   The Prize Chits and Money Circulation Schemes (Banning) Act, 1978
6.   The Prize Chits and Money Circulation Schemes (Banning) Kerala Rules, 1979
7.    Banning of Unregulated Deposit Schemes Rules, 2019 (Central)
8.    Banning of Unregulated Deposit Schemes Rules, 2020 (Central)
9.    Kerala Banning of Unregulated Deposit Schemes Rules, 2021
Notifications
NOTIFICATIONS
Authorise the Inspector General of Registration to perform the functions
Criminal Activities of Moneylenders - Extortionate Levy of Interest -
Lawful action against the offenders who conduct such business
criminally against the law
Criminal Activities of Moneylenders - Exorbitant Levy of interest -
Modified instructions issued
Minimum Wages-Rates of wages payable to the employees employed
in Private Financial Institutions in the State
CIRCULARS
INDEX
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