Q. 34.3( 4 Votes )

Examine the impac

Answer :

According to the Limitation Law, the validity of the loan bonds signed between ryots and money lenders would be only three years. But moneylenders tricked ryots by forcing them to sign a new bond after every three years, wherein the unpaid balance was entered as the principal amount. Over time, the unpaid balance piled up and the debt mounted. Thus, this new system of bonds was associated with the misery of the peasants.

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