Loan agreement under the Indian law

In this article, the author examines the concept of the origins, nature, the principles, the basic conditions of the loan agreement in Indian law, as well as the features of the credit agreement in the legal practice in India. India is one of the largest markets in Asia, has developed legislation in the sphere of crediting, which includes, as a concept major credit contracts used in the global banking practice (credit agreement, agreement on overdraft loan, agreement for a revolving line of credit, agreement on the opening not revolving line of credit), and concepts characteristic only for the legal system of the Republic of India - the so-called short-term loans to core funding (bridge loans), as well as a loan on request (demand loan) or loan on a call (call loan). The author is giving a comparative analysis of the institutions of the loan agreement (loan) and the Institute of prior credit agreement (advance).

loan agreement, Indian legislation, India, Borrower, lender, banking law, essential terms of the loan agreement, interest rate, form of the loan agreement, money lender