Vidhi Codex

Bare Act

The Goa, Daman and Diu Usury Laws (Amendment) Act, 1965

General19654 sections

The Goa, Daman and Diu Usury Laws (Amendment) Act, 1965 regulates interest rate restrictions on loans within the Union Territory of Goa, Daman and Diu. It applies to government entities, development banks, financial corporations, insurance companies, cooperative societies, and other public sector financial institutions. The law exempts these institutional lenders from old colonial-era Portuguese interest rate caps when providing loans, credit, hire-purchase agreements, or financial services. This legislation matters because it enables modern state and public financial institutions to offer credit and financing needed for regional economic development without being constrained by outdated historical interest ceiling laws.

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  1. 0. Preamble
  2. 1. Short title, extent and commencement
  3. 2. Definitions
  4. 3. Nothing in Diploma Legislative no.1063, dated 17th August, 1939, or in any other

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