The State legislative Assembly has passed Jharkhand Niji Sahukar (Nisedh) Vidheyak-2016 on November 23. According to this law, nobody will be allowed to keep things as mortgage for giving money to the needy person. If a person violates this law, he will be jailed for three years and fined up to Rs 5,000. If a person is punished under this law and he is found guilty again for its violation the second time, he will be jailed for five years and fined Rs 10,000.
Additional CS cum Development Commissioner Amit Khare said that the major victims of this system are innocent tribal people living in the remote areas of the state. Though many laws were made after Independence to protect these people from the usurers, but the poor people could not be protected completely from them. ‘Bihar Sahukar Adhiniyam 1974’ was implemented in undivided Bihar which Jharkhand adhered after separation. But the provisions of these laws were related with controlling the usurers.
Khare also made it clear that there is no objection on lending and borrowing money without interest. The law prohibits usury against and lending against mortgage. He said that branches of govt. and private banks have been opened far and wide in the state and people in large number have got their accounts opened with various banks under Jan Dhan Yojana.