No Tags Found!

snkl-terror
Is it legal for a Govt employee to lend money for interest at high rates?
From India, Chennai
loginmiraclelogistics
1073

Such transactions are conducted without proper documentation, sometimes using signed blank papers between known persons. There are certain regulations & act passed by the TN govt. to curb such dealings fleecing poor & innocent borrowers imposing too high rate of interest say 20,30% p.m. Govt.employees are governed by the Conduct & Discipline Rules of the state which prohibits such activities as a side business.
Also please read Tamilnadu Money Lending Act 1957 and the Tamilnadu Prohibition of Charging Exorbitant Interest Act.

From India, Bangalore
saiconsult
1899

A govt. employee is bound by the Civil Service Conduct rules framed by the State Govt.concerned.Normally doing business outside the scope of employment is prohibited by service rules. You need to go through the service rules applicable to govt.employees of your State.
B.Saikumar
HR & Labour Relations Consultant

From India, Mumbai
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.