Limitation law passed by the British stated that the loan bonds signed between moneylenders and 'ryots' would have validity for:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → Only three years
The Limitation Law of 1859 stated that loan bonds signed between moneylenders and ryots would be valid for only three years; it was meant to check the accumulation of interest over time.
NCERT (2026-27): “3.6 The experience of injustice … The ryots came to see the moneylender as devious and deceitful. They complained of moneylenders manipulating laws and forging accounts. In 1859 the British passed a Limitation Law that stated that the loan bonds signed between moneylenders and ryots would have validity for only three years. This law was meant to check the accumulation of interest over time.…” |