Section 1: Short title and extent

(1) This Act may be called Usurious Loans Act, 1918.

(2) It extends to the whole of India except [the territories which, immediately before the 1st November, 1956, were comprised in Part B States] ***.

(3) The State Government may, by notification in the Official Gazette, direct that it shall not apply to any area, class of persons, or class of transactions which it may specify in its notification.

Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.

Supreme Court judgments citing the section 1

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