Andhra Pradesh Micro Finance Institutions (Regulation of Money Lending) Act, 2011

Q: What does Section 2 of Andhra Pradesh Micro Finance Institutions (Regulation of Money Lending) Act, 2011 say?

(a) 'Government' means the State Government of Andhra Pradesh; (b) 'Interest' for the purposes of the terms defined under the provisions of this Act would mean a return on the amount lent by the MFI to a SHG; (c) 'Loan' means an advance whether of money or in kind given to the borrowing SHG at interest, whether given before the commencement of this Act or after such commencement and includes advance, discount, money paid for or on account of or paid on behalf of or at the request of any person,

Raw JSON API

Sections

9. Maximum amount of interest recoverable on loans and discharge of loans in certain cases.

Section 9

10. Prior approval for grant of further loans to SHGs or their members.

Section 10

11. Duty of MFIs to maintain accounts and furnish copies.

Section 11

12. Submissions of monthly statement by MFIs.

Section 12

13. Power to require production of records or documents and power of entry, inspection and seizure.

Section 13

14. Complaints.

Section 14

15. Settlement of Disputes.

Section 15

16. Penalty for coercive actions MFIs.

Section 16

17. Penalty for carrying on business without registration.

Section 17

18. Penalty for contravention of the provisions of the Act.

Section 18

19. Every officer to be public servant.

Section 19

20. Bar of certain proceedings.

Section 20

21. Power to remove difficulties.

Section 21

22. Power to give directions.

Section 22

23. Power to make rules.

Section 23

24. Annual Report on the administration of the Act.

Section 24

25. Repeal of Ordinance 9 of 2010.

Section 25

andhra-pradesh-micro-finance-institutions-regulation-of-money-lending-act-2011-2011.json • 25 Sections • Andhra Pradesh

{
    "id": 14582,
    "slug": "andhra-pradesh-micro-finance-institutions-regulation-of-money-lending-act-2011-2011",
    "title": "Andhra Pradesh Micro Finance Institutions (Regulation of Money Lending) Act, 2011",
    "short_title": "Andhra Pradesh Micro Finance Institutions (Regulation of Money Lending) Act, 2011",
    "act_number": "(Act No. 1 of 2011)",
    "act_year": 2011,
    "act_type": "STATE",
    "location": "Andhra Pradesh",
    "law_status": "unknown",
    "enactment_date": null,
    "description": "Andhra Pradesh Micro Finance Institutions (Regulation of Money Lending) Act, 2011",
    "preamble": "",
    "section_label": "Section",
    "sections": [
        {
            "number": "1",
            "title": "1. Short title, extent and commencement.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 0
        },
        {
            "number": "2",
            "title": "2. Definitions.",
            "chapter": null,
            "content": "(a) 'Government' means the State Government of Andhra Pradesh;\n(b) 'Interest' for the purposes of the terms defined under the provisions of this Act would mean a return on the amount lent by the MFI to a SHG;\n(c) 'Loan' means an advance whether of money or in kind given to the borrowing SHG at interest, whether given before the commencement of this Act or after such commencement and includes advance, discount, money paid for or on account of or paid on behalf of or at the request of any person, or any account whatsoever, and every agreement (whatever its terms or form may be) which is in substance or effect a loan of money or in kind given to an SHG and further includes, an agreement relating to the repayment of any such loan;\n(d) 'Micro Finance Institution (MFI)' means any person, partnership firm, group of persons, including a Company registered under the provisions of the Companies Act 1956, (Central Act 1 of 1956) a Non-Banking Finance Company as defined under the Reserve Bank of India Act, 1934, (Central Act 2 of 1934) a Society registered under the Andhra Pradesh Co-operative Societies Act, 1964, (Act 7 of 1964) or the Andhra Pradesh Societies Registration Act, 2001 (Act 35 of 2001) and the like, in whichever manner formed and by whatever name called, whose principal or incidental activity is to lend money or offer financial support of whatsoever nature to the below poverty line population;\n(e) 'Notification' means a notification published in the Andhra Pradesh Gazette and the word 'notified' shall be construed accordingly;\n(f) 'Prescribed' means prescribed by rules made by Government under this Act;\n(g) 'Registering Authority' means the Project Director, District Rural Development Agency for the rural areas and Project Director, MEPMA for Urban areas; or any other person appointed by the District Collector to perform the functions of a registering authority under this Act for such District;\n(h) 'Registration' means registration granted to a MFI under this Act;\n(i) 'Self Help Group (SHG)' means a group of women formed on principles of self help and registered as such with the Society for Elimination of Rural Poverty (SERP) in the rural areas or Mission for Elimination of Urban Poverty in Municipal areas (MEPMA) in urban areas;\n(j) 'SHG bank linkage' means provision of credit for the SHGs by the commercial banks based on a micro credit plan prepared by the SHGs for carrying out economic activities;\n(k) 'SHG Member' means a registered member of a SHG who intends to avail a loan through such SHG and thus a borrower under the provisions of this Act;\n(l) 'Society for Elimination of Rural Poverty (SERP)' is a Society formed by Government for the purpose of implementing pro-poor initiatives and thereby eliminating poverty in rual areas;\n(m) 'Society under Mission for eliminating poverty in municipal areas (MEPMA)' is a Society formed by Government for the purpose of implementing pro-poor initiatives and thereby eliminating poverty in urban areas;\n(n) Words used but not defined in this Act, shall have the same meaning assigned to them under the relevant Acts.",
            "footnote": "",
            "is_definition": true,
            "sort_order": 1
        },
        {
            "number": "3",
            "title": "3. Registration of MFIs.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 2
        },
        {
            "number": "4",
            "title": "4. Register of MFIs.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 3
        },
        {
            "number": "5",
            "title": "5. Power to suspend/ cancel registration.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 4
        },
        {
            "number": "6",
            "title": "6. Power to suspend/ cancel registration.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 5
        },
        {
            "number": "7",
            "title": "7. MFIs not to seek security for loan.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 6
        },
        {
            "number": "8",
            "title": "8. Display of rates of interest charged by MFIs.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 7
        },
        {
            "number": "9",
            "title": "9. Maximum amount of interest recoverable on loans and discharge of loans in certain cases.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 8
        },
        {
            "number": "10",
            "title": "10. Prior approval for grant of further loans to SHGs or their members.",
            "chapter": null,
            "content": "(i) name of the Borrower;\n(ii) name of the SHG;\n(iii) bank from which loan has been obtained by the SHG;\n(iv) date of the loan granted by the bank;\n(v) amount paid to the SHG by the bank;\n(vi) amount due from the SHG;\n(vii) fresh amount of loan sought by the SHG from the MFI;\n(viii) terms of repayment proposed by the MFI;\n(ix) details of due diligence including the capacity of the SHG for repayment; and\n(x) such other details as may be prescribed.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 9
        },
        {
            "number": "11",
            "title": "11. Duty of MFIs to maintain accounts and furnish copies.",
            "chapter": null,
            "content": "(a) deliver or cause to be delivered, to the borrower within seven days from the date on which a loan is made, a statement in the prescribed form showing in clear and distinct terms the amount and date of the loan and of its maturity, the name and address of the functionary of the MFI and the effective rate of interest charged;\n(b) upon repayment of a loan in full, the MFI shall obtain an indelible mark on every paper signed by the borrower with words indicating such repayment and provide copies thereof to the borrower.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 10
        },
        {
            "number": "12",
            "title": "12. Submissions of monthly statement by MFIs.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 11
        },
        {
            "number": "13",
            "title": "13. Power to require production of records or documents and power of entry, inspection and seizure.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 12
        },
        {
            "number": "14",
            "title": "14. Complaints.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 13
        },
        {
            "number": "15",
            "title": "15. Settlement of Disputes.",
            "chapter": null,
            "content": "(a) shall, as soon as may be after the commencement of this Act, establish for every district in the State a Fast-Track Court;\n(b) may establish Fast-Track Court for such other areas in the State, as it may deem necessary.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 14
        },
        {
            "number": "16",
            "title": "16. Penalty for coercive actions MFIs.",
            "chapter": null,
            "content": "(a) obstructing or using violence to, insulting or intimidating the borrower or his family members, or\n(b) persistently following the borrower or his family member from place to place or interfering with any property owned or used by him or depriving him of, or hindering him in the use of any such property, or\n(c) frequenting the house or other place where such other person resides or works, or carries on business, or happens to be, or\n(d) doing any act calculated to annoy or intimidate such person or the members of his family, or\n(e) moving or acting in a manner which causes or is calculated to cause alarm or danger to the person or property of such other person, or\n(f) seeking to remove forcibly any document from the borrower which entitles the borrower to a benefit under any Government programme:",
            "footnote": "",
            "is_definition": false,
            "sort_order": 15
        },
        {
            "number": "17",
            "title": "17. Penalty for carrying on business without registration.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 16
        },
        {
            "number": "18",
            "title": "18. Penalty for contravention of the provisions of the Act.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 17
        },
        {
            "number": "19",
            "title": "19. Every officer to be public servant.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 18
        },
        {
            "number": "20",
            "title": "20. Bar of certain proceedings.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 19
        },
        {
            "number": "21",
            "title": "21. Power to remove difficulties.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 20
        },
        {
            "number": "22",
            "title": "22. Power to give directions.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 21
        },
        {
            "number": "23",
            "title": "23. Power to make rules.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 22
        },
        {
            "number": "24",
            "title": "24. Annual Report on the administration of the Act.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 23
        },
        {
            "number": "25",
            "title": "25. Repeal of Ordinance 9 of 2010.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 24
        }
    ],
    "metadata": {
        "Act ID": "Last Updated 2nd September, 2019 [ap373]",
        "Act Number": "(Act No. 1 of 2011)",
        "Enactment Date": "",
        "Act Year": "2011",
        "Short Title": "Andhra Pradesh Micro Finance Institutions (Regulation of Money Lending) Act, 2011",
        "Type": "STATE",
        "Location": "Andhra Pradesh"
    },
    "updated_at": "2026-09-29 21:55:18"
}