Reserve Bank of India

Where to register complaint about illegal finance in india, gold shop owner giving money on interest?

My friend has kept gold to a person who is running a gold shop and now that shopkeeper is not giving the gold back after giving him 10 % interest every month, shopkeeper is asking for 15% interest. Is it legal in inida to give gold and take money on interest. Can we make a legal action and do something.

Public Comments

1. Lodge a police complaint followed up by a Legal notice on the Financier. Has he got licence to trade in money lending. It not He is bound to be in trouble. Act fast. No delays.
2. Go to a police station and make the complaints which will be attended to by the economic offence department. Do not worry about the consequences. You will be attended to the problem provided you have documents to prove the agreement.
3. Amal and gogi r not wrong but if ur friend has written proof that your friend has/had given that gold to that shopkeeper? If yes,then proceed.
4. This jeweller is clearly violating the MLA ( Money Laundering Act ). Go make a complain to the police.