Usury Laws (Amendment) Act, 1965

(No. 12 of 1965) 

Diploma Legislative no. 1063 of the ex-Portuguese Administration, which is still in force in the Union Territory of Goa, Daman and Diu  prohibits the charging of the rate of interest above 6 per cent for any institutions except Banks, Pawn shops etc. The existences of this Law has made it difficult in secure loans for industrial Development and also long term loans for other purposes from the various Credit Institutions and the L.I.C.. It is therefore necessary for these various institutions constituted by a statute to be exempted from the operation of the said Diploma Legislative . (Statement of Object and Reasons- Published in the Government Gazette Series-I No. 19 [supplement No.-2] dated 9-8-1965. The Act came in to force: 15-10-1965.

This file contains:

1. The Act 
2. Notifications issued by the State Government pertain to this Act.