Section 65(4) in Rajasthan Co-operative Societies Act, 1965
(4)The lending policy of a financing bank shall be approved by the Government.[65A. Interest not to exceed principal. - Notwithstanding anything contained in any agreement or in any law for the time being in force, a society other than a Land Development Bank shall not charge by way of interest an amount exceeding that of the principal from a member taking short-term loan for a period not exceeding fifteen months or from a member initially taking such short-term loan but subsequently getting it converted into a medium-term loan on account of any natural calamity, irrespective of whether the loan was or is given before or after the commencement of the Rajasthan Co-operative Societies (Amendment) Act, 1984, subject, however, that the amount of such short-term loan including such portion thereof as has been converted into a medium-term loan does not exceed Rs. 2,000/-] [Inserted by Rajasthan Act No. 14 of 1984. [21-7-84.]]
