Section 7: MFIs not to seek security for loan

The Andhra Pradesh Micro Finance Institutions (Regulation of Money Lending) Act, 2011State Act of Andhra Pradesh · Act 1 of 2011

No MFI shall seek any security from a borrower by way of pawn, pledge or other security for the loan:

Provided that any such security obtained from a borrower before the commencement of this Act shall forthwith stand released in favour of the borrower.

Where this provision sits

Act	The Andhra Pradesh Micro Finance Institutions (Regulation of Money Lending) Act, 2011
Section	7
Marginal note	MFIs not to seek security for loan
Jurisdiction	State of Andhra Pradesh
Status	In force as published by the source

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