History · Colonialism and Countryside
Why was the 'Limitation Law' of 1859 enacted by the British colonial administration in India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To completely ban all forms of private lending and informal credit networks
- 2To simplify the legal procedures for moneylenders to permanently seize ryots' lands
- 3To check the accumulation of interest by stating that loan bonds would remain valid for only three years✓
- 4To arbitrarily increase the legal loan interest rates charged by moneylenders
Correct answer
To check the accumulation of interest by stating that loan bonds would remain valid for only three years
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