Section 2

Rate of interest to be decreed by Courts.

The Usury Laws Repeal Act, 1855

  • Act 28 of 1855
  • Ministry of Finance
  • Department of Economic Affairs
About this Act

An Act for the repeal of the Usury Laws.

All sections
    In any suit in which interest is recoverable, the amount shall be adjudged or decreed by the Court at the rate (if any) agreed upon by the parties; and if no rate shall have been agreed upon, at such rate as the Court shall deem reasonable.

Source: India Code (Legislative Department, Govt. of India). Check the official Gazette before relying on it in court. Not legal advice. Free legal aid: 15100 (NALSA) · Know your rights

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