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When a shady Arab trader offers Sogo a mill on credit, he accepts despite the exorbitant interest rate.
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Such loans, billed as "rapid" or "instant" refunds, typically charge exorbitant interest rates.
The latter led to a series of government reforms, including caps on exorbitant interest rates.
The exorbitant interest rates they charged — sometimes as high as 60 percent — only fed the fury.
In fact, until 1978, banks were subject to laws in every state that banned lending at exorbitant interest rates.
Before microlenders arrived, the poor had little choice but to become deeply indebted to moneylenders who charged exorbitant interest rates of 120 percent or more a year.
Most Dalits are paid less than the cost of living, forcing millions to borrow money at exorbitant interest rates from unscrupulous bosses who trick them into perpetual slavery.
The party denounces exorbitant interest rates charged on the debt of our country, and Islam is against the practice of usury".
He says he has had to resort to cash advance companies that expect him to pay back loans at exorbitant interest rates.
Their sometimes exorbitant interest rates, however, caused social unrest, which made public authorities aware of the need for alternative facilities for consumption loans.
That would move the state's borrowing into junk-bond territory and impose exorbitant interest rates on any future bond issues.
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