A new rule is being introduced for loans taken from licensed moneylenders. Borrowers will have a 3-day cooling-off period, which starts on September 15.
This cooling-off period allows borrowers to cancel a loan during this time at a reduced cost. The Law Ministry is imposing this new rule.
Further details about the new rule can be found in the source publication, which reports on the introduction of this cooling-off period and its effects on borrowers.
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