Police crackdown on illegal interest and finance traders
RSD- Rajannasircilla news: On 06.07.2024, the police formed 24 teams across the district and conducted surprise inspections against those who were running illegal business and finance without permits in the district. Cases were registered against 14 people who were operating illegal interest and finance business and 16,13,000/- cash and 359 documents were seized. On this occasion, the SP warned that strict action will be taken as per the law if the finance is managed without and the common people are put in trouble with high interest. SP said on this occasion that he warned that strict legal action should be taken against the traders who take advantage of the financial needs of the people and charge high interest on them by giving money on interest. The SP requested that people should not put their families in trouble by committing suicide and not being able to pay the debts and high interest rates by borrowing large sums of money beyond what is necessary for their emergency and temporary needs.
The SP requested that only those who conduct finance in legal methods with the permission of the government should be trusted and that the details of those who run illegal finance business without any government permission can be given to him at the district police office and also to complain to the local police and dial 100. The details of those who gave the information will be kept confidential and by conducting a thorough investigation, the police department is working with the aim of getting justice for the victims. Taking and giving loans is not a crime, but according to RBI rules and provisions of Telangana Lending Act, anyone can give and take loans without license. However, the district SP warned that if people violate the law, with high interest rates, action will be taken according to the law.
