Farmers First: Maha Govt Frames Rules to Check Wily Loan Sharks

Given Maharashtra's history of suicides among farmers — approximately 2700 to 2800 each year for the last seven to eight years — and growing complaints of extra interest rates being levied on farm loans followed by land grabs, the state government has devised a method to keep private money lenders in check.

- Surendra P Gangan

MUMBAI: The state's co-operation department has made it mandatory for the 12,000-odd private money lenders to display the details of their licence numbers and the interest charged on loans on a board outside their offices or shops, and has warned of strict action should they fail to comply.