The Orissa Money-Lenders Act, 1939

The Orissa Money-Lenders Act, 1939

The Orissa Money-Lenders' Act, 1939 regulates money-lending transactions and protects debtors within the State of Odisha. It applies to private individual money-lenders engaged in the business of advancing loans, while explicitly excluding formal banking institutions, cooperative societies, and state agencies. By establishing clear legal definitions for loans, interest rates, capital, and registered lenders, the legislation creates a structured framework for private credit. It matters because it protects vulnerable borrowers from unfair financial terms, ensures transparency in informal lending markets, and provides judicial mechanisms for debt relief and regulatory oversight across the state.

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