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Tell me my calculation is correct, my customer borrowed 5k rupees and i am charging 39% in that amount as interest and 4% as processing fees. So in total customer pays me 5000 + 1950 ( ie total interest) and 200 rs (4%) and users pays back in three months as 7150 so emi for 3 months is 2383 rs. Am legally correct? Is it ok charge this much and my company is startup., so it's not a nbfc yet? Am I subject any restrictions??
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