Section 6 in The Haryana Relief of Agricultural Indebtedness Act, 1976
6. Interest.
- The interest payable on the debt shall be calculated at the rate applicable to debt under the law, custom or contract or at a rate of six per cent per annum whichever is less than credit shall be given for all sums paid or credited first towards outstanding interest and the balance, if any, shall be credited towards repayment of the principal. The amount of principal and the interest outstanding will be considered as the net outstanding debt by the 22nd day of August, 1975, for the purpose of scaling down.
