Act 14 of 2004: It is considered necessary to prohibit the charging of exorbitant interest by any person, in order to obviate the difficulties experienced by the public particularly farmer who are falling prey to the people charging exorbitant interest on the loans. Therefore, it has been decided to prohibit lending money at such an exorbitant interest and to provide for stringent punishment thereof. The Bill among other things provides for the following:- i) prohibition of charging exorbitant interest by a money lender; ii) penalty for charging exorbitant interest and for molesting or abetting molestation of any debtor for recovery of loan; iii) provisions for filling petition to a court by a debtor to seek order recording satisfaction of loan and interest; iv) voluntary disclosure by a person charging exorbitant interest by filling a petition to the court disclosing his intention to charge only the rate fixed 2 by the Government under section 28 of the Karnataka Money Lenders Act, 1961; v) adjustment of interest .