Money-lender to keep books, give receipts, etc

Money-lender to keep books, give receipts, etc.

1. (1) Every money-lender shall-
   • (a) regularly I ecorct and mai!~taii~ or cause to be recorded and main tainetl , an .G--,, .... 1 ..hov-in2 for each debtor separately-
     • (i) the date of the loan, the oinount of the principal of the loan, the rate oS interest chargtbd c~n the loan and the nature of security taken, if any ; :mtl
     • (ii) the amount of every payment received by the money-lender in rcspcct uf the loan, and ;l~c dirte of such payment ;
   • (b) give to tbc dtbtor or his agent cz receipt hr every rqm writ paid !ni hiin, dul:t signed at d if necessary, stamped at the time ol auch payment ;
2. (7) Notwithstan cliilg any agrmlneat between the parties or any law for the time being in force, when a statement is furnished to a debtor under this section 011 any day during amonth, the interest due shall be calculated as payable for the entire month irrespective of the fact that such state- ment is furnished on any such day.