India, June 8 -- Given Maharashtra's history of suicides among farmers - approximately 2700 to 2800 each year for the last seven to eight years - and growing complaints of extra interest rates being levied on farm loans followed by land grabs, the state government has devised a method to keep private money lenders in check. The state's co-operation department has made it mandatory for the 12,000-odd private money lenders to display the details of their licence numbers and the interest charged on loans on a board outside their offices or shops, and has warned of strict action should they fail to comply.

There are more than 12,000 private money lenders registered under Maharashtra Money Lending (Regulation) Act 2014, who disburse a corpus ...