The Wokha district administration, under Deputy Commissioner Vineet Kumar, IAS, has issued a stern warning against individuals and groups engaged in illegal money lending practices without obtaining the necessary licenses.
An official notification from the Deputy Commissioner’s office stated that it has come to light that “certain individuals/groups under Wokha district are practicing illegal money lending business without obtaining proper licenses from the concerned authority,” a practice that directly violates the provisions of the Nagaland Money Lenders Act, 2005 (Act No.6 of 2005).
The Deputy Commissioner reiterated that, pursuant to the Nagaland Money Lenders Act, 2005, “operating illegal money lending business is prohibited.” The notification further warned “whoever is found doing lending business without obtaining license or otherwise that is not in conformity with the terms and conditions of a license shall be punished with imprisonment for a term which may extend to six months or with a fine which may extend to two thousand five hundred, or with both.”