THE HIMACHAL PRADESH DISTRESSED PERSONS (FACILITIES FOR LOANS) ACT, 1976
The Himachal Pradesh Distressed Persons (Facilities for Loans) Act, 1976
This specific legislation empowers the Himachal Pradesh government to establish rules for granting and recovering relief loans to individuals devastated by natural disasters and calamities, such as floods, landslides, epidemics, and severe droughts. Applying to all affected residents within Himachal Pradesh, this law matters because it institutionalizes a vital financial safety net during crises, allowing the government to distribute emergency recovery funds quickly. Crucially, the act enables the state to legally recover these loans and interest from borrowers, joint borrowers, or their guarantors as arrears of land revenue, ensuring strict financial accountability while actively supporting vulnerable citizens during difficult times.
- 0. Preamble
- 1. Short title, extent and commencement
- 2. Definitions.- In this Act, unless the context otherwise requires,-
- 3. Power of State Government to make rules for grant of loans and their recovery
- 4. Recovery of loans as arrears of land revenue
- 5. Liability of joint borrowers as among themselves
- 6. Rule making power
- 7. Repeal and savings
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