Bare Act

The Nagaland Recovery of Loan Act 2007

This law provides a legal process for the government of Nagaland to recover loans that banks and financial institutions have lent out. It applies to individuals, companies, and groups that borrowed money for farming or business activities under state-approved schemes. The main goal is to ensure lenders get their money back so they can continue lending to others. By improving loan recovery, the state aims to encourage more credit flow and support economic development in the region.

PDF: pending for this language.