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of <h1>Credit Institutions Can Adjust Interest Rates on Term Loans Sanctioned Before October 1, 1991, Under Section 26C of Interest-tax Act.</h1> Section 26C of the Interest-tax Act, 1974, allows credit institutions to modify agreements for term loans sanctioned before October 1, 1991. These institutions can lawfully increase the interest rate specified in such agreements to cover the interest-tax liability they incur under this Act for the interest on these loans. A 'term loan' is defined as a loan that is not repayable on demand.
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