Deduction for recovery of loans from wages must follow Central Government guidelines on loan limits and interest rates. Deduction for recovery of loans from wages is regulated under section 24 and must follow the extant instructions or guidelines of the Central Government. ... Summary
Deduction for recovery of loans from wages must follow Central Government guidelines on loan limits and interest rates.
Deduction for recovery of loans from wages is regulated under section 24 and must follow the extant instructions or guidelines of the Central Government. Those guidelines govern both the extent to which such loans may be granted and the rate of interest payable, so deductions for principal and interest remain subject to the prevailing central regulatory framework.
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