Know more about Interest on Loans

1. https://rbi.org.in/Scripts/BS_ViewMasCirculardetails.aspx?id=9043
2. https://rbi.org.in/Scripts/BS_ViewMasCirculardetails.aspx?id=10518
3. https://rbi.org.in/Scripts/Righttoinfoact.asp
4. INTEREST NOW IS BEING CHARGED ON A WEEKLY BASIS BY SOME INSTITUTIONS AND THE BANKS HAVE STARTED CHARGING ON A MONTHLY BASIS.
5. THIS AMOUNTS TO PRACTICE OF THE PRIVATE MONEY LENDERS AND WHAT THE LAW SAYS IS TO BE CHECKED.
6. DOES IT AMOUNT TO THE BASIS OF THE SIMPLE INTEREST OR COMPOUND INTEREST?
7. WISH THE AUTHORITIES CONCERNED TO HAVE A LOOK IN THIS MATTER AND SAVE THE FACE OF THE BORROWERS.