Vidhi Codex

The Goa Money Lenders and Accredited Loan Providers Act, 2013

The Goa Money Lenders and Accredited Loan Providers Act, 2013

Finance201333 sections8 chapters

This law regulates money lending within the state of Goa. It applies to money lenders and accredited loan providers who offer loans to individuals, excluding banks and government bodies. The primary purpose is to protect borrowers by establishing clear rules for lending transactions. It aims to increase transparency in these financial dealings, prevent unfair practices, and ensure that lenders operate fairly when providing money to people in need.

Start reading →Read full ActSections

Chapter I Chapter I →

  1. 1Short title, extent and commencement.
  2. 2Definition.

Chapter II Chapter II →

  1. 3Appointment of Registering Authority.
  2. 4Register of Money lenders.
  3. 5Money lender to obtain registration.

Chapter III Chapter III →

  1. 6Maintenance of books and accounts and submission of returns.
  2. 7Submissions of accounts, returns, etc.
  3. 8Power to require production of records or documents and power of entry, inspection
  4. 9Borrowers not bound to admit correctness of accounts.

Chapter IV Chapter IV →

  1. 10Procedure in disputes regarding loan.
  2. 11Deposit of money due on loan with Collector or Mamlatdar.
  3. 12Appeal.
  4. 13Suits and applications by unregistered money lenders barred.

Chapter V Chapter V →

  1. 14Registration of accredited loan providers.
  2. 15Submissions of accounts, returns etc.
  3. 16Settlement of disputes.
  4. 17Cancellation of registration.

Chapter VI Chapter VI →

  1. 18Limitation on rates of interest charged by money lenders and accredited loan
  2. 19Maximum amount of interest recoverable on loans and discharge of loan in certain

Chapter VII Chapter VII →

  1. 20Entry of wrong sum in bond, etc., to be an offence.
  2. 21Penalty for salami, batta, dharmada, etc.
  3. 22Penalty for molestation.
  4. 23Penalty for carrying on business without registration.
  5. 24Penalty for contravention of the provisions of this Act.
  6. 25Composition of offences.
  7. 26Cognizance of certain offences.

Chapter VIII Chapter VIII →

  1. 27Every officer to be public servant.
  2. 28Saving of laws relating to agriculturists’ indebtedness.
  3. 29Power to make rules.
  4. 30Power to Exempt.
  5. 31Annual Report on the administration of the Act.
  6. 32Repeal and savings.

PDF: pending for this language.