Crackdown on Illegal Money Lending in Gadag

The Gadag police conducted raids on multiple locations following complaints of illegal money lending practices. Excessive interest rates and threats to recover loans prompted this action, resulting in the recovery of Rs 26.57 lakh and seizing of unaccounted items. Similar actions were executed by Uttara Kannada police.

The Gadag police undertook significant raids on Sunday, targeting houses and locations linked to illegal money lending activities.

These operations came in response to growing complaints regarding individuals imposing excessive interest rates and threatening borrowers who struggled to repay their debts.

The crackdown led to the confiscation of Rs 26.57 lakh, along with numerous blank cheques, bonds, and registers, signaling a decisive move against these unlawful practices. Similarly, the Uttara Kannada police booked 39 individuals in connection with nine cases, especially targeting micro-finance companies involved in coercive recovery tactics.

(With inputs from agencies.)