Money lenders

1. https://en.wikipedia.org/wiki/Moneylender
2. http://indiatoday.intoday.in/story/village-money-lenders-continues-to-be-an-indispensable-source-of-credit/1/348123.html
3. There must be one law for the whole of India towards lending money on interest. on loans, debts, and there must be a limit .Now the rate goes to 2.5 to 3 p.c and sometimes compounded and charged on a daily basis.
4. Such things are done in the banks, and other financial institutions and the common man and gullible people are taken for a ride.
5. Why the common man and layman suffer because of these people and institutions?
6. They offer you a loan of Rs,1000/ and they take Rs. 100 in ADVANCE and give only Rs. 900/-  repayable every Saturday  by 10 instalments.
7. You can find out the interest rate by calculating.
8. The lender will visit and collect the instalment surely.
9. such things are prevalent in every nook and corner.
10. I wish the Central Govt takes this matter as urgent and pass   one law for the whole of India.
11. If given a chance and the loop hole and opportunity this can go even up to 50 or 75 percent too.