Usurious Loans Act, 1918 [A10-8D8]
As at 7 September 2026. In force from 14 January 1918.
Sections (20)
Chapter I. PRELIMINARY
Chapter II. RESERVE BANK
Chapter III. OFFENCES AND PENALTIES
Section 1. Short title, extent and commencement [S16-QDV]
Section 2. Definitions [S16-QEX]
Section 3. Appointment of Reserve Bank [S16-QFZ]
Section 4. Registration of financials institution [S16-QG4]
Section 5. Prohibition of the enforcement of security interest without licence [S16-QH6]
Section 6. Grant of licence [S16-QJ0]
Section 7. Maintenance of records and furnishing of returns [S16-QK2]
Section 8. Powers of authorised officer [S16-QMC]
Section 9. Power to issue directions [S16-QNE]
Section 10. Power to exempt [S16-QP8]
Section 11. Registration of bankings company [S16-QQA]
Section 12. Prohibition of the borrowing of money without licence [S16-QRM]
Section 13. Grant of licence [S16-QSP]
Section 14. Penalty for contravention [S16-QTG]
Section 15. Offences by companies [S16-QVJ]
Section 16. Appeal [S16-QWW]
Section 17. Cognizance of offences [S16-QXY]
Section 18. Protection of action taken in good faith [S16-QYR]
Section 19. Power to make rules [S16-QZT]
Section 20. Power to remove difficulties [S16-R0R]
Made under
No recital of a power is printed.
Acts on (0)
none
Acted on by (5)
Amends: Usurious Loans Act (Amendment) Act, 1983 [A10-VS3], 16 March 1983. "section 16 of the Usurious Loans Act, 1918 (10 of 1918)".
Corresponds to: Usurious Loans (Amendment) Bill, 2017 [A12-FZ5], 5 July 2017.
Amends: Usurious Loans Act (Amendment) Act, 1954 [A10-E3C], 14 May 1954. "section 16 of the Usurious Loans Act, 1918 (10 of 1918)".
Amends: Usurious Loans Act (Amendment) Act, 1995 [A11-3GP], 27 March 1995. "section 14 of the Usurious Loans Act, 1918 (10 of 1918)".
Exempts: Notification S.O. 3247(E), dated 14th March, 1920 [N11-ECP], 14 March 1920. "section 4 of the said Act".
Not held (1)
"section 3 of the Reserve Bank of India Act, 1934"