Received the assent of the Governor on the 31st December, 2010 and the said assent is hereby first published on the 1st January, 2011 in the Andhra Pradesh Gazette for general information: [Act No.1 of 2011] An Act to protect the Women Self Help Groups from Exploitation by the Micro Finance Institutions in the State of Andhra Pradesh and for the Matters connected therewith or Incidental thereto. Whereas, Government of Andhra Pradesh has facilitated organization of the below poverty line households into Self Help Groups (SHG) for the purpose of their economic advancement by achieving financial inclusion through linking with the banking network; And whereas the endeavor of the State is to protect the interests of SHGs and relieve them from the undue hardship by regulating money lending transactions by the money lending MFIs, who are providing loans to SHGs with usurious interest rates and resorting to coercive means of recovery resulting in impoverishment and at times leading to suic

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S.1 Short title, extent and commencement

S.2 Definitions

S.3 Registration of MFIs

S.4 Register of MFIs

S.5 Power to suspend/cancel registration

S.6 Member of SHG not to be member of more than one SHG

S.7 MFIs not to seek security for loan

S.8 Display of rates of interest charged by MFIs

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

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

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

S.12 Submissions of monthly statement by MFIs

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

S.14 Complaints

S.15 Settlement of Disputes

S.16 Penalty for coercive actions MFIs

S.17 Penalty for carrying on business without registration

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

S.19 Every officer to be public servant (Central Act 45 of 1860)

S.20 Bar of Certain proceedings

S.21 Power to remove difficulties

S.22 Power to give directions

S.23 Power to make rules

S.24 Annual Report on the administration of the Act

S.25 Repeal of Ordinance 9 of 2010