Section 16(1) in Andhra Pradesh Micro Finance Institutions (Regulation of Money Lending) Rules, 2011
(1)Based on the database submitted by Micro Finance Institutions registered under these Rules, each Registering Authority shall, identify such loans where the interest paid has exceeded the principal borrowed, and issue a direction in Form 6 for discharge of such loans and for return of such interest portion that exceed the principal amount to the borrower.
