Error message

  • Deprecated function: The each() function is deprecated. This message will be suppressed on further calls in book_prev() (line 775 of /usr/share/nginx/html/sanchitha.lsgkerala.gov.in/modules/book/book.module).
  • Deprecated function: implode(): Passing glue string after array is deprecated. Swap the parameters in drupal_get_feeds() (line 394 of /usr/share/nginx/html/sanchitha.lsgkerala.gov.in/includes/common.inc).

19. Interest on Government loans

  1. In the case of Government loans interest shall be charged, at the rate agreed upon yearly or half-yearly, as the Government may determine and shall be reckoned and paid on each installment from the date on which such installment is received by the local authority.
  2. The Government may, if they think fit, direct that compound interest at a rate not less than 7 '/ per cent per annum shall be paid upon all overdue installments of interest or principal and interest.