Tseminyu, April 7 (MExN): Deputy Commissioner Tseminyu, Japheth Woch, has informed that certain individuals and groups in the district are engaging in illegal money lending without valid licences.
In a notification, the DC stated that operating money lending businesses without a licence is prohibited under the Nagaland Money Lender Act, 2005.
It was informed that those found violating the provisions of the Act may face imprisonment of up to six months, a fine of up to Rs 2,500, or both.
The DC directed all residents to comply with the provisions of the Act and refrain from unauthorised money lending activities.
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