Section 3 in The U.P. Regulation Of Money-Lending Act, 1976
3. Definitions. -
In this Act -(1)'bank' means -(a)a banking company as defined in the Banking Regulation Act, 1949;(b)the State Bank of India constituted under the State Bank of India Act, 1955;(c)a subsidiary bank as defined in the State Bank of India (Subsidiary Bank) Act, 1959;(d)a "corresponding new bank" constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970;(e)a regional rural bank established under sub-section (1) of Section 3 of the Regional Rural Banks Act, 1976;(f)any banking institution notified by the Central Government under Section 51 of the Banking Regulation Act, 1949; or(g)any other banking or financial institution notified by the State Government as a bank for the purposes of this Act;(2)'business of money-lending' means the business of advancing loans, whether or not in connection with or in addition to any other business;(3)'Co-operative society' means a co-operative society as defined in the Uttar Pradesh Co-operative Societies Act, 1965;(4)'interest' in relation to a loan, includes any sum, by whatever name called in excess of the principal paid or payable to a money-lender in consideration of or otherwise in respect of the loan, but does not include any sum lawfully charged by a money-lender for or on account of costs, charges or expenses in accordance with the provision of this Act or any other law for the time being in force;(5)'loan' means an advance at interest whether of money or in kind and includes any transaction which is in substance a loan, but does not include sale of any goods by a dealer in such goods whether on credit or on hire-purchase;(6)'money-lender' means a person who carries on the business of money-lending;(7)'principal' in relation to a loan, means the amount actually advanced to the debtor;(8)'registration' means registration under this Act, and registered shall be constructed accordingly.(9)[ "Year of account" means a period of twelve months commencing on the first day of April of a Calendar year.] [Inserted by Section 2 of U.P. Act No. 27 of 2006.]
