section 7
MFIs not to seek security for loan.
The Andhra Pradesh Micro Finance Institutions (Regulation of Money Lending) Act, 2010General201124 sections
Statutory text
No MFI shall seek any security from a borrower by way of pawn, pledge or other security for the loan: Provided that any such security obtained from a borrower before the commencement of this Act shall forthwith stand released in favour of the borrower.
Study data processing for this section.
PDF: pending for this language.