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

[R Krishnamoorthy]

Dears
To my knowledge there was no lending on interest in Vedic days.Borrowings
were there but only confined to repayment of the principal or giving back
the borrowed article.There is no equivalent word for interest in
Samskrit.Aparadham was there if some promise is not fulfilled.But no
percentage on principal amount.I may be corrected.R.Krishnamoorthy.

On Tue, Jul 2, 2013 at 9:22 PM, Siva Senani Nori <sivasenani at yahoo.com>wrote:

> 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
> >_______________________________________________
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