Money lending law amendment in cold storage since 2008

Published in The Hitavada CityLine on April 2, 2013

Amendment to money lending law in cold storage since 5 yrs

By Kartik Lokhande

When the issue of farmers’ suicides had occupied centre-stage some years back, Maharashtra Home Minister (the then Deputy Chief Minister) R R Patil had announced to punish money lenders hard. The then Chief Minister late Vilasrao Deshmukh, in 2008, had announced that Bombay Money Lending Act would be amended to incorporate stringent punishment for private money lenders exploiting the farmers.

However, despite strong statements by Maharashtra’s top two authorities, the amendment bill is in cold storage since five years. Maharashtra forwarded the Bill to the President’s office, which sent it back with some queries. Savkargrast Shetkari Samiti has been following up the issue and it staged demonstrations at Azad Maidan in January this year to register protest against State Government’s inaction in this regard. The Bill comprised an important amendment enabling farmers to get back their land usurped by private money lenders.

While the Government is issuing/renewing licences to private money lenders, it has not ensured speedier passage of Bombay Money Lending (Amendment) Act since 2008. This exposes the Government’s intentions, alleged MLA Devendra Fadnavis. Acccording to him, the Bill’s passage is being delayed as restoring possession of land from money lenders to farmers is the key issue.

Sources in Co-operation Department brought out another angle of the story. According to them, in many cases, money lenders got farmers’ land transferred in their names as the farmers defaulted in loan payment owing to usurious rate of interest. Money lenders were smart enough to get such a ‘land deal’ registered. “Previously, when we had made attempts to cancel such registries, our action did not stand in court of law as registry made the land deals perfectly legal under Indian Registration Act,” said an official familiar with the issue.

Making amendments to Bombay Money Lending Act would not suffice, said sources. If land is to be returned to farmers, enabling provisions would have to be incorporated through amendments in Indian Registration Act also.


Comments

  1. Anonymous15 April 2013 at 20:00

    Hello. magnificent employment. I would not look forward to this distinct. This is a superb report. Thanks!
    7a loans

    ReplyDelete
  2. Brainitec28 March 2019 at 11:27

    Hey very nice post. To know more about cold storage keep a look on cold storage for vegetables and fruits and services like Cold Storage on rent.

    ReplyDelete

Post a Comment

Popular posts from this blog

Hinganghat: Here rests the great surveyor of India...

Image
  By Kartik Lokhande  Often, the work of explorers lives on but they get buried in the history. This is exactly what has happened in case of Lt Col William Lambton. The man credited with initiating one of the greatest scientific activities in the world -- The Great Trigonometrical Survey of India -- lays buried at a place now known as ‘Kala Gota’ amid a crowded locality behind Bus Stand in the town of Hinganghat in Wardha district. Sadly, the memorial of this great surveyor, whose work led to measuring the highest point on Earth 50 years later, has become a victim of neglect. And, surprisingly, not many know about it and the great significance of Hinganghat in the landmark survey.  Lambton Memorial, known locally as 'Kala Gota' in Hinganghat. (Pic: Kartik Lokhande) Lt Col William Lambton The benchmark stone of Great Trigonometrical Survey, in the courtyard of a house behind Bus Stand in Hinganghat. (Pic by Kartik Lokhande) Lt Col Will...
Read more

Chanda boy Dr Vipin Itankar is UPSC topper in State

Image
12-06-14 * Efficiency and effectiveness are the keywords for the topper * Nagpur lads Aawesh Titarmare, Arpit Gudadhe, and Ankur Meshram also bring laurels to the region in UPSC examination results By Kartik Lokhande  “I am blessed. Vipin is extremely hard-working, dedicated and a confident guy I have ever met in my life. He was always at top since college days. I was confident that he would be in top ten in the UPSC examination as well.” (Centre) Dr Vipin Itankar, who secured 14th rank nationally and topped Maharashtra in UPSC Civil Services Examination-2013 results, celebrating with his family members in Chandigarh on Thursday. This is how Dr Shalini, wife of Dr Vipin Vithoba Itankar, reacted on learning that Vipin had emerged as the Maharashtra topper in Union Public Service Commission (UPSC) examination. Talking to ‘The Hitavada’ over telephone from Chandigarh, where Vipin and Shalini work in Government Medical College and Hospital in Sector 32, both exp...
Read more

Private suppliers smile as Nagpur Dairy closes down

24-04-14 * As against the supply of 15,000 litres of milk daily to Nagpur, now ‘Aarey’ brand supply has come down only to around 6,000 litres a day and that too from Wardha * Non-homogenised ‘Aarey’ milk is being supplied at higher price to Nagpur since April 1 By Kartik Lokhande  One’s adversity could be another’s opportunity. This is proving true in case of milk supply. Since the handing over of Government Dairy at Nagpur to Mother Dairy from April 1, the supply of ‘Aarey’ brand of milk to Nagpur has been affected. And, this has proven to be an opportunity for private suppliers. In October 2013, Maharashtra Cabinet had decided to provide about 10 acres of land of Government Dairy at Nagpur to Central Government’s Mother Dairy on 30-years lease to increase milk output. Accordingly, from April 1, Government Dairy at Nagpur closed down. However, sources said, Mother Dairy is yet to start production. With ‘Aarey’ brand of milk going out of supply, and Mother Dairy b...
Read more