The Chhattisgarh Money Lenders (Amendment) Act, 2005

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This Act amends the rules governing money lenders in the state of Chhattisgarh to provide better clarity for borrowers and lenders alike. It revises specific provisions related to recovery charges and repayment periods within the Money Lenders Act. Specifically, it permits lenders to recover costs of up to one thousand rupees or extends repayment terms to five years to make debt recovery more manageable. By implementing these changes, the legislation aims to establish stricter yet more enforceable guidelines for lending operations, helping to prevent financial disputes and ensuring that lenders have a fair mechanism for securing their loans without imposing excessively burdensome penalties on borrowers.

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1. Short title extent and commencement
2. Amendment of section

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