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[Cites 0, Cited by 0] [Section 40] [Entire Act]

Union of India - Subsection

Section 40(2) in The National Capital Region Planning Board Rules, 1985

(2)A loan shall bear interest for the day of payment but not for the day of repayment. Interest for any shorter period than a complete year shall be calculated as :-
No.of days x Yearly rate of interest
365
Unless any other method of calculation is specified by the Board in any particular case or class of cases.