Administration in ‘Action Mode’ to Curb Illegal Moneylending; District Collector Urges Moneylenders to Follow Government Regulations

Chandrapur, Dec 2025 : In the backdrop of incidents arising from illegal moneylending in Chandrapur district, District Collector Vinay Gowda G.C. held a review meeting with all moneylenders in the district on Friday. He made it clear that moneylending must be carried out strictly in accordance with the rules laid down under the Maharashtra Moneylending (Regulation) Act, 2014. The meeting was held in the Planning Hall and was attended by District Superintendent of Police Mummaka Sudarshan, Additional Superintendent of Police Eshwar Katakade, District Deputy Registrar of Cooperative Societies Jaysingh Thakur and others.

Speaking on the occasion, District Collector Mr. Gowda said that the Maharashtra Moneylending (Regulation) Act, 2014 is in force in the state. Moneylenders must conduct business as per the provisions of the Act. All licensed moneylenders must be registered. The government has fixed the rate of interest, and no moneylender is allowed to charge interest above the prescribed rate. Charging higher interest is an offence and punishable under law. He further stressed that after lending money, no one may resort to assault, intimidation, coercion, or any illegal method for recovery. Strict action will be taken against those who violate norms and laws while conducting business, he said.

Superintendent of Police Mr. Sudarshan said that licensed moneylenders should conduct business strictly within legal provisions. If anyone has information regarding illegal moneylending activities, they should inform the police. The names of informants will be kept confidential.

During a presentation, District Deputy Registrar Mr. Thakur briefed the moneylenders about the law. He said that under Section 5 of the Maharashtra Moneylending (Regulation) Act, 2014, a licence is mandatory to conduct moneylending business. As per Section 16, it is compulsory to produce records if demanded by the Registrar for inspection. If any property has been acquired through illegal moneylending, it may be cancelled under Section 18. The government has fixed interest rates under the order dated September 16, 2014, and charging anything above the prescribed limit may attract legal action, he added.

Where to file a complaint: Complaints may be filed at District Helpline No. 18002338691, at the Chandrapur District Collector’s Office, Assistant Registrar (Cooperation), Deputy Registrar (Cooperation), or at the nearest police station. All complaints will be kept confidential.