(A) Haryana Agricultural Credit Operation and Miscellaneous Provisions (Banks) Act, 1973–Charging of Interest-Clause in agreement regarding rate of interest does not specify whether the interest is to be compounded monthly, quarterly, half yearly or yearly or in any other terms-Further, there does not appear to be any agreement for compound interest-Practice of Bank if any for charging compound interest has not been tendered in evidence-Banks directed to charge simple interest® 12 % p.a.                                                                                                                                                                                                                                                      (Paras 5 & 6)

(B) Haryana Agricultural Credit Operation and Miscellaneous Provisions (Banks) Act, 1973-Charging of Interest-Agreement was silent about rate of interest and whether simple or compound interest is to be charged-Banks directed to charge simple interest @ 12 % p.a.

Surender Singh & Anr.

v.

Haryana Gramin Bank

 2016(3) Law Herald (P&H) 2138 (DB) : 2016 LawHerald.Org 1363