....Who will come to the rescue of the aam aadmi? A bank cannot be allowed to suck the blood of the common man in the form of interest. It will not be out of place to mention here the RBI directive on interest rates. It stipulates as follows: “Though interest rates have been deregulated, charging of interest beyond a certain level is seen to be usurious and can neither be sustainable nor be conforming to normal banking practice. Boards of banks have, therefore, been advised to lay out appropriate internal principles and procedures so that usurious interest, including processing and other charges are not levied by them on loans and advances.”.....
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