Deputy Commissioner Tseminyu, Japheth Woch, has informed that certain individuals and groups in the district are engaging in illegal money lending without valid licenses under the Nagaland Money Lenders Act, 2005. A press release by asst. director Maghasha stated that the DC directed all residents that operating money lending without a valid license is prohibited under the Nagaland Money Lender Act 2005. It added that violators may face imprisonment of up to six months, or a fine of up to Rs 2,500, or both.
EDITOR PICKS
All’s quiet on the eastern front
Since the 2014 launch of the Act East Policy, Nagaland has been celebrated as a “gateway” to ASEAN markets in Myanmar, Thailand, and Bangladesh. Grand plans are announced-highways, trade facilitation centres, agricultural corridors-yet for most smal...