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Munger News: Munger SP Syed Imran Masood has announced strictness on usury. He said that action will be taken against illegal recovery. Appealing to the people, he said that they should take loans only from recognized banks.
Munger: The police seems to be strict on the increasing cases of usury in the district. Munger SP Syed Imran Masood has given a strong statement. He has clearly said that any kind of extortion and exploitation in the name of loans taken privately will not be tolerated. According to the SP, a complainant had recently approached him. Who admitted that he had borrowed money informally from some private people in his time of need. Now their complaint is that the people giving them money are putting pressure on them in the name of usury. Trying to recover arbitrarily.
The law and guidelines regarding loan and recovery are very clear
SP Syed Imran Masood said that the law and guidelines regarding loan and recovery are very clear. He said that any kind of loan can be given only by RBI regulated institutions or recognized banks. In such a situation, if a private person gives money on interest and later tries to recover it through threat, pressure or exploitation, then it will not be accepted under any circumstances.
This appeal was made to the people
He also appealed to the common people to take loans only from recognized banks and financial institutions when needed, so that legal protection is maintained and they do not have to become victims of any kind of usury or illegal extortion. The SP gave a clear message that the police will take strict action against those who exploit in the name of usury. In every such case, legal action will be ensured.
This stance of Munger Police is being seen as a big relief for those people. Those who take money from private moneylenders under compulsion, but later are forced to face exorbitant interest, threats and social pressure. After the SP’s statement, it is expected that the victims will come forward and lodge complaints openly. Police will also take immediate action in such cases.





























