NATIONAL MORTGAGE, FINANCING AND GUARANTEE SCHEME ACT - 1976 (SMCD 23)

    Section - 17 - Commission in Respect of Indemnity.

    In respect of the indemnity afforded to any financial institution by the Bank under section 16 of this Decree the financial institution shall pay to the Bank monthly, a commission at the rate of one-half of one per centum per annum on the balance of the loan for the time being outstanding which amount shall be deemed to be part of the interest payable by the Borrower under section 7 of this Decree.