Chargeable interest defined to exclude inter bank loans; bad debt interest deemed to accrue when credited to profit loss or received. The substituted section defines chargeable interest of a credit institution as total interest accruing or arising in a previous year, excluding interest on loans and advances to other credit institutions; interest relating to categories of bad or doubtful debts under income tax law is deemed to accrue in the year it is credited to the profit and loss account or, if earlier, when actually received.