Call money effect - Money Lending Bill in the Assembly

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Wednesday, December 16, 2015

The State Cabinet meeting held today under the chairmanship of Chief Minister Nara Chandrababu Naidu has decided to introduce a Money Lending Bill during the Assembly session.

Finance Minister Yanamala Ramakrishnudu said the State lacked a Money Lending Act while the neighboring States Telangana and Tamil Nadu have such Acts. He said a draft policy has already been prepared and the Law Department is studying the guidelines of the Act implemented in other States. It will also check the loopholes before preparing a comprehensive policy and will be presented in the Assembly once it is ready.

Lodge complaints: The Minister has advised the call money racket victims to lodge complaints without any fear and they do not have to make payments to lenders. He said that the government is committed to take stern action against those involved in the racket. He said that a judicial commission headed by a retired High Court judge would be appointed to investigate the racket and will suggest measures to be taken to curb such unlawful incidents in future.

Minister for Information and Public Relations Palle Raghunath Reddy said that as many as 80 people had been arrested till date across the State. Of these 27 have affiliation with the YSRCP, six with the TDP and three with Left parties.

Vijayawada Commissioner of Police Gautam Sawang said that they have seized hundreds of documents and promissory notes from them. He said that the police are on the lookout for the unlicensed money-lenders across the district.

In Srikakulam district, police have arrested five money lenders including two in town and one each at Itchapuram, Tekkali and Palasa.

In Visakhapatnam, the police raided over 20 premises of daily financers in the city and in Anakapalle and arrested five persons. At Allipuram, one financer Madeti Gandhi was taken into custody and seized 122 blank promissory notes and 22 blank cheques. The police also seized over 160 loan books that indicated a current circulation of loan amount to the tune of Rs.60 lakh. In another raid, the CTF seized 30 blank promissory notes and five blank cheques and took Malla Nookaramu into custody. In Anakapalle the police arrested one Y.Nookaraju and seized 39 blank promissory notes and 40 blank cheques.

In Rajahmundry, 19 persons were arrested in Rajahmundry urban police limits during the raids and seized cash to the tune of Rs.23.20 lakh. A total of 447 empty promissory notes, 80 signed empty cheques, 64 signed white papers and one general power of attorney agreement and 26 other documents were seized.

Arrests/cases are being made in Guntur (15), Prakasam (3), Nellore(1), East Godavari (1), Viziangaram (15), Srikakulam (6)

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