Definitions.

In this Act, unless the context otherwise requires,- (1) "daily vatti" means interest on daily basis which will work out to an interest rate more than that fixed by the Government under section 7 of the Money-lenders Act; (2) "debtor" means a person who receives loan for exorbitant interest; (3) "exorbitant interest" means and includes daily vatti, hourly vatti, kandhu vatti, meter vatti and thandal; (4) "hourly vatti" means interest on hourly basis which will work out to an interest rate more than that fixed by the Government under section 7 of the Money-lenders Act; (5) "kandhu tatti" means an interest which will work out to an interest rate more than that fixed by the Government under section 7 of the Money-lenders Act; (6) "loan" means an advance of money for daily vatti, hourly vatti, kandhu vatti, meter vatti or thandal; (7) "meter vatti" means an interest which will work out to an interest rate more than that fixed by the Government under section 7 of the Money-lenders Act, for every day on the loan amount not paid within the stipulated time; (8) "Money-lenders Act" means the Tamil Nadu Money-lenders Act, 1957; (9) "thandal" means interest which will work out to an interest rate more than that fixed by the Government under section 7 of the Money-lenders Act, which is to be collected daily along with the part of the loan amount; (10) words and expressions used but not defined in this Act, shall have the meanings assigned to them in the Money-lenders Act.