Social Sciences, asked by anupallavi6551, 2 months ago

Moneylenders charge rate of interest

Answers

Answered by XxMissPriyaxX04

Explanation:

The Kerala Money Lenders Act, 1958, permitted moneylenders to charge interest on any loan at a rate exceeding 2% above the maximum rate of interest charged by commercial banks on credit of the same business nature. Commercial banks charged 10% to 12% per annum interest on gold loans.

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