Shivraj Singh Chouhan warns against unlicensed money lending law

Chief Minister of Madhya Pradesh

Shivraj Singh Chouhan said on Friday that a law would be enacted to prevent money lenders from operating unlicensed in the state.

Chouhan was speaking at a reception organized to mark the end of his 100 days in power.

Law will be enacted to prevent moneylenders from operating unlicensed and granting loans to poor and tribals with high interest, the chief minister said.

Money lenders were killing people with high interest, he said, adding that they would have to return valuables mortgaged by the poor as collateral for loans.

The chief minister said the state government is dedicated to the welfare of the poor.

“We have set up several programs for all strata of society, including students and farmers,” said Chouhan, speaking in the presence of Jyotiraditya Scindia, member of Rajya Sabha.

In addition, the previous Congressional government led by Kamal Nath had ruined the state in 15 months, he claimed and alleged that he had deceived the farmers by promising them to give up their loans until Rs 2 lakh .

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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