The State government is seriously contemplating an amendment to Section 18 (b) of the Kerala Money-Lenders’ Act of 1958, so as to deal more seriously with the crime of people pawning fake gold with moneylenders, Finance Minister K.N. Balagopal has said.He was replying to a submission moved by Kovoor Kunjumon in the Assembly on Monday (September 29, 2025), on the need to treat pawning of fake gold as a more serious crime which attracts stringent punishment861 casesMr. Balagopal said that about 861 crime involving the pawning of fake gold had been registered by the police during this government’s period so far. Section 18 (b) of the Money-Lenders’ Act outlines penalties for contravening the Act, its rules, or the terms of a moneylender’s licence, and for making false claims. The police can directly register cases under the Bharatiya Nyaya Sanhita BNS 318 (a) against offenders and the offence is non-bailable, which could invite a maximum punishment of seven years of imprisonment and fine. However, it has been noticed that all those charged with the crime of pawning fake gold are getting away with relatively simple sentences, the Minister said.The government now thinks that an amendment to Section 18 (b) of the Kerala Money-Lenders’ Act is necessary to reduce the crime of pawning of fake gold and to ensure that the financial loss suffered by the lending institution is recovered from the loanee.The Act would need to be suitably amended so as to enable the confiscation or attachment of all property and assets of the person pawning fake gold to recover the losses suffered by the financial institution. The government will take a suitable decision on this soon, Mr. Balagopal said. Published - September 29, 2025 05:06 pm IST