- [(1) No money-lender shall charge interest on any loan, at a rate exceeding such rate as the Government may, by notification, fix, from time to time:Provided that the rate of interest as may be fixed by the Government shall be correlated to the current bank rates of lending as may be fixed by the Reserve Bank of India, from time to time.] [Sub-section (1) was substituted by section 3 of the Tamil Nadu Money-Lenders (Amendment) Act, 1979 (Tamil Nadu Act 41 of 1979).](2)A money-lender may demand and take from the debtor such charges and in such cases as may be prescribed.(3)A money-lender shall not demand or take from the debtor any interest, profit or other sum whatsoever in excess of that payable under sub-section (1).
