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CUT-THROAT LENDING: Money Lending Act 1946 states private money lenders can't charge over 15 pc on unsecured loans.

CUT-THROAT LENDING: Money Lending Act 1946 states private money lenders can

Bank overcharges interest, then threatens consumer

The Mumbai Police have registered an FIR against Citi Financial and Consumer Finance India for allegedly charging more interest rates and threatening a consumer. The case is now raising questions on the working of the Non-Banking Financial Companies (NBFCs) in the country.

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