Is it okay with the moneylenders? Munger SP became strict on private loan recovery, gave this strict warning

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.