[Advaita-l] Interest Collection is Wrong according to Dharma?

[Siva Senani Nori]

I recently proof-read a book on Dharmasastra called Katyayanamatasangraha dealing with litigation (व्यवहार) - and it cites many examples of interest taking. There are rules as to when simple interest should be charged, and when compounding should be resorted to. Oftentimes 5% per month is prescribed as the interest that should be charged when whatever ought to be done (within a certain time) is not done. I am not giving references because they are too many and the assertion that interest-charging was both common and well-discussed in Dharmasastra works is usually not contested (and also because I do not have much time at hand presently).

Then, there is the modern dictum that one ought to never belittle anybody from the wife's side, deservedly or undeservedly, if one wants peace. I believe this is the more forceful principle :-).

Regards
N. Siva Senani



>________________________________
> From: Venkatesh Murthy <vmurthy36 at gmail.com>
>To: A discussion group for Advaita Vedanta <advaita-l at lists.advaita-vedanta.org> 
>Sent: Tuesday, 2 July 2013 8:42 PM
>Subject: [Advaita-l] Interest Collection is Wrong according to Dharma?
> 
>
>Namaste
>
>Book Micro economic Theory by Walter Nicholson page 9 -
>
>'For example, St. Thomas Aquinas believed value to be divinely determined.
>Since
>prices were set by humans, it was possible for the price of a commodity to
>differ
>from its value. A person accused of charging a price in excess of a good’s
>value was
>guilty of charging an “unjust” price. For example, St. Thomas believed the
>“just”
>rate of interest to be zero.'
>
>In Muslim religion also they say you should not charge any interest for
>loans.
>
>Like this is there any Dharma Sastra rule in Hinduism for charging interest
>on loans?
>
>
>My wife's cousin's grand father was very religious Brahmin but he was money
>lender. He was charging heavy interest to all people.
>
>-- 
>Regards
>
>-Venkatesh
>_______________________________________________
>Archives: http://lists.advaita-vedanta.org/archives/advaita-l/
>http://blog.gmane.org/gmane.culture.religion.advaita
>
>To unsubscribe or change your options:
>http://lists.advaita-vedanta.org/cgi-bin/listinfo/advaita-l
>
>For assistance, contact:
>listmaster at advaita-vedanta.org
>
>