30A. [ Limitation as to rate of interest recoverable in case of commercial loan.-] [Section 30A Inserted by W.B. Act 4 of 1981, w.e.f. 2.2.1981.]Notwithstanding anything contained in any law for the time being in force or in any agreement, no borrower of a commercial loan shall be liable to pay any interest other than simple interest at a rate per annum not exceeding in the case of-
(i)unsecured loan ... twenty per centum;(ii)secured loan ... seventeen per centum.
