Chennai, 29/8: With an aim to protect economically weaker sections from loan sharks, the Tamil Nadu Assembly on Tuesday passed a bill that proposes stringent punishment for those who use coercion to recover loan money from borrowers.
Deputy chief minister Udhayanidhi Stalin said the Tamil Nadu Money Lending Entities (Prevention of Coercive Actions) Bill, 2025, was drafted as the government felt it was necessary to provide a statutory framework to protect vulnerable groups from the loan sharks.
