History · Colonialism and the Countryside
Why was the 'Limitation Law' of 1859 passed by the British colonial administration in India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To artificially increase the loan interest rates charged to peasants
- 2To prevent the accumulation of interest over long periods by stating that loan bonds had validity for only three years✓
- 3To legally empower moneylenders to permanently seize ancestral peasant lands
- 4To completely ban all forms of private moneylending and credit systems
Correct answer
To prevent the accumulation of interest over long periods by stating that loan bonds had validity for only three years
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