Amendment status not verified — confirm the current text below against the official source.
[(1) No money-lender shall charge interest on any loan at a rate exceeding eighteen per cent simple interest per annum and two percent processing charge.] (2) A money-lender may demand and take from the debtor such charges and in such cases, as may be prescribed. (3) A money-lender shall not demand or take from the debtor any interest, in excess of that payable under sub-section (1) (4) No money-lender shall give any presents, gifts, commission or any amount other than the interest provided in sub-section (2) of section 4 to any depositor in connection with the deposits received by such money-lender or receive any presents, gifts, commission or any amount other than the interest and other charges specified in this section from any person to whom money is advanced. Substituted by Kerala Finance Act, 2019 (Act 5 of 2019). (w.e.f. 01/04/2019).