Chapter 3.11 makes private credit governable: it caps interest by risk, polices fraud and harassment, limits stale claims, and secures recovery through estate/surety rules to protect rājanya-yogakṣema and commercial liquidity. Differentiated monthly interest ceilings align capital incentives with route-risk (ordinary to maritime). Debt disputes are treated as state-security concerns when they affect public welfare or royal interest. Fraudulent inflation of principal/interest and vexatious petitions trigger sharp penalties plus restitution. A ten-year limitation curbs perpetual harassment while exceptions protect vulnerable or force-majeure debtors. Successor and surety/estate liability rules preserve recoverability, stabilizing production and the kośa indirectly.
Sutra 1
सपादपणा धर्म्या मासवृद्धिः पणशतस्य पञ्चपणा व्यावहारिकी दशपणा कान्तारगाणाम् विंशतिपणा सामुद्राणाम् ॥ कZ_०३.११.०१ ॥
The lawful monthly interest is one and a quarter paṇa per hundred. The ordinary commercial rate is five per hundred; for caravan/forest-route trade, ten per hundred; for sea-trade, twenty per hundred.
Sutra 2
ततः परं कर्तुः कारयितुश्च पूर्वः साहसदण्डः श्रोतृऋणामेकैकं प्रत्यर्धदण्डः ॥ कZ_०३.११.०२ ॥
Beyond that (permitted rate), the one who commits (the excess) and the one who causes it to be done are liable to the first (lowest-grade) sāhasa fine; and for each witness-debtor involved, an additional half-fine is imposed.
Sutra 3
राजन्ययोगक्षेमावहे तु धनिकधारणिकयोश्चरित्रमवेक्षेत ॥ कZ_०३.११.०३ ॥
But in matters that bear upon the king’s security and stability, he shall examine the conduct/record of financiers and deposit-holders/treasurers.
Sutra 4
धान्यवृद्धिः सस्यनिष्पत्ताव् उपार्धा परं मूल्यकृता वर्धेत ॥ कZ_०३.११.०४ ॥
For grain-loans, the increase at harvest may be up to one-half; beyond that, any increase must be justified by price (market valuation).
Sutra 5
प्रक्षेपवृद्धिरुदयादर्धं सम्निधानसन्ना वार्षिकी देया ॥ कZ_०३.११.०५ ॥
For an advanced/invested amount, the increase is payable annually, amounting to half of the gain (udaya), when properly evidenced and entered into record/verification.
Sutra 6
चिरप्रवासः स्तम्भप्रविष्टो वा मूल्यद्विगुणं दद्यात् ॥ कZ_०३.११.०६ ॥
One who has been long absent, or who has entered/encroached upon a fixed holding (lit. ‘entered the pillar/landmark’), shall pay twice the value.
Sutra 7
अकृत्वा वृद्धिं साधयतो वर्धयतो वा मूल्यं वा वृद्धिमारोप्य श्रावयतो बन्धचतुर्गुणो दण्डः ॥ कZ_०३.११.०७ ॥
If, without a valid basis, one enforces interest, or inflates it, or inflates the valuation, or imputes interest and has it publicly proclaimed/recorded, the penalty is four times (the amount), with imprisonment/bonding measures.
Sutra 8
तुच्छश्रावणायामभूतचतुर्गुणः ॥ कZ_०३.११.०८ ॥
In the case of a frivolous proclamation/complaint, the penalty for a groundless (false) claim is fourfold.
Sutra 9
ध्रुवं हि साक्षिभिः श्रोतव्यम् ॥ कZ_०३.११.४८ ॥
Witnesses must be heard with certainty and decisiveness (i.e., their testimony must be properly taken and fixed).
Sutra 10
अशृण्वतां चतुर्विंशतिपणो दण्डः ततोऽर्धमब्रुवाणानाम् ॥ कZ_०३.११.४९ ॥
Those who do not listen (when required in testimony) are fined 24 paṇas; those who do not speak or answer are fined half of that.
Sutra 11
तस्य त्रिभागमादाता दद्यात् शेषं प्रदाता ॥ कZ_०३.११.०९ ॥
Of that (claim), the collecting agent shall pay one-third; the giver (i.e., the principal party/creditor side responsible for the collection arrangement) shall pay the remainder.
Sutra 12
दीर्घसत्त्रव्याधिगुरुकुलोपरुद्धं बालमसारं वा नर्णमनुवर्धेत ॥ कZ_०३.११.१० ॥
One shall not cause a debt to keep increasing (by interest or extension) against a minor, or against one prevented/disabled by a long sacrifice (ritual obligation), illness, or confinement in a teacher’s house; nor against a person without means (insolvent).
Sutra 13
मुच्यमानमृणमप्रतिगृह्णतो द्वादशपणो दण्डः ॥ कZ_०३.११.११ ॥
A fine of twelve paṇas is imposed on one who refuses to accept payment of a debt when it is being discharged.
Sutra 14
कारणापदेशेन निवृत्तवृद्धिकमन्यत्र तिष्ठेत् ॥ कZ_०३.११.१२ ॥
If, by pleading a reason, interest has been stopped (or suspended), the claim shall stand otherwise (i.e., without further increase, and subject to re-filing only under proper grounds).
Sutra 15
दशवर्षोपेक्षितमृणमप्रतिग्राह्यमन्यत्र बालवृद्धव्याधितव्यसनिप्रोषितदेशत्यागराज्यविभ्रमेभ्यः ॥ कZ_०३.११.१३ ॥
A debt neglected for ten years is not recoverable—except where non-recovery was due to minority, old age, illness, calamity/distress, absence abroad, abandonment of place, or disruption of the kingdom.
Sutra 16
प्रेतस्य पुत्राः कुसीदं दद्युः दायादा वा रिक्थहराः सहग्राहिणः प्रतिभुवो वा ॥ कZ_०३.११.१४ ॥
For a deceased debtor, the sons shall pay the interest; or the heirs who take the estate; or co-borrowers; or sureties.
Sutra 17
न प्रातिभाव्यमन्यत् ॥ कZ_०३.११.१५ ॥
No other kind of suretyship is recognized/allowed.
Sutra 18
असारं बालप्रातिभाव्यम् ॥ कZ_०३.११.१६ ॥
Suretyship undertaken by a minor is invalid (without legal force).
Sutra 19
नानर्णसमवाये तु नैकं द्वौ युगपदभिवदेयातामन्यत्र प्रतिष्ठमानात् ॥ कZ_०३.११.१९ ॥
In a debt case involving multiple debtors/creditors, two persons shall not simultaneously address (plead before) the court for one side; except where a duly authorized representative is formally appointed.
Sutra 20
तत्रापि गृहीतानुपूर्व्या राजश्रोत्रियद्रव्यं वा पूर्वं प्रतिपादयेत् ॥ कZ_०३.११.२० ॥
Even in such combined matters, repayment/handing over shall follow the order of prior attachment/seizure; and royal property or śrotriya (Brahmin endowment) property shall be restored first.
Sutra 21
दम्पत्योः पितापुत्रयोः भ्रातृऋणां चाविभक्तानां परस्परकृतमृणमसाध्यम् ॥ कZ_०३.११.२१ ॥
Between spouses, between father and son, and among undivided brothers, a debt contracted by one against the other is not maintainable (not enforceable as a recoverable claim).
Sutra 22
अग्राह्याः कर्मकालेषु कर्षका राजपुरुषाश्च ॥ कZ_०३.११.२२ ॥
Farmers and royal servants shall not be seized/arrested during their working periods (when on essential duty).
Sutra 23
स्त्री चाप्रतिश्राविणी पतिकृतमृणमन्यत्र गोपालकार्धसीतिकेभ्यः ॥ कZ_०३.११.२३ ॥
A wife is not liable for a debt contracted by her husband, except for obligations connected with cowherding and with share-cultivation arrangements (e.g., half-share and similar agricultural contracts).
Sutra 24
पतिस्तु ग्राह्यः स्त्रीकृतमृणमप्रतिविधाय प्रोषित इति ॥ कZ_०३.११.२४ ॥
But the husband is liable for a debt contracted by the wife if he went away without making provision/arrangement (for maintenance or settlement).
Sutra 25
सम्प्रतिपत्ताव् उत्तमः ॥ कZ_०३.११.२५ ॥
Mutual acknowledgment/settlement is the best proof.
Sutra 26
अस्मप्रतिपत्तौ तु साक्षिणः प्रमाणं प्रात्ययिकाः शुचयोऽनुमता वा त्रयोऽवरार्ध्याः ॥ कZ_०३.११.२६ ॥
When there is no mutual acknowledgment, witnesses are the proof: they must be reliable and pure (credible), or otherwise acceptable; at minimum three (of the lower/ordinary class) are required.
Sutra 27
पक्षानुमतौ वा द्वौ ऋणं प्रति न त्वेवैकः ॥ कZ_०३.११.२७ ॥
Or, if both parties consent, two witnesses may suffice for a debt claim—but never a single witness.
Sutra 28
प्रतिषिद्धाः स्यालसहायान्वर्थिधनिकधारणिकवैरिन्यङ्गधृतदण्डाः पूर्वे चाव्यवहार्याः ॥ कZ_०३.११.२८ ॥
Disqualified (as witnesses/participants) are: close in-laws and accomplices; the interested petitioner, the creditor, the holder/custodian (with a stake), and an enemy; as well as those bearing marks of punishment or disgrace. The earlier-mentioned categories are also non-justiciable (not fit to be proceeded with in court).
Sutra 29
राजश्रोत्रियग्रामभृतककुष्ठिव्रणिनः पतितचण्डालकुत्सितकर्माणोऽन्धबधिरमूकाहं वादिनः स्त्रीराजपुरुषाश्च अन्यत्र स्ववर्गेभ्यः ॥ कZ_०३.११.२९ ॥
Royal grantees/privileged beneficiaries, village servants, hired dependents, lepers and the severely wounded, outcastes and Caṇḍālas, persons of contemptible occupations, the blind, the deaf, the mute, self-confessed parties, women, and the king’s officers—are not to be taken as witnesses except within their own respective groups.
Sutra 30
पारुष्यस्तेयसंग्रहणेषु तु वैरिस्यालसहायवर्जाः ॥ कZ_०३.११.३० ॥
But in cases of assault, theft, and unlawful seizure/collection, witnesses must be free from enmity, collusion, and dependence as an ally/associate.
Sutra 31
रहस्यव्यवहारेष्वेका स्त्री पुरुष उपश्रोता उपद्रष्टा वा साक्षी स्याद् राजतापसवर्जम् ॥ कZ_०३.११.३१ ॥
In confidential transactions, a single witness—whether a woman or a man—who either overheard or observed may serve as witness, except that the king and ascetics are to be excluded.
Sutra 32
स्वामिनो भृत्यानामृत्विगाचार्याः शिष्याणां मातापितरौ पुत्राणां चानिग्रहेण साक्ष्यं कुर्युः तेसामितरे वा ॥ कZ_०३.११.३२ ॥
Masters may testify regarding their servants; priests and teachers regarding their pupils; and parents regarding their sons—provided the testimony is given without coercion; otherwise, other witnesses should be used.
Sutra 33
परस्पराभियोगे चैषामुत्तमाः परोक्ता दशबन्धं दद्युः अवराः पञ्चबन्धम् । इति साक्ष्यधिकारः ॥ कZ_०३.११.३३ ॥
And when these persons accuse one another, the higher among them shall pay the previously stated tenfold security/forfeit, while the lower shall pay fivefold. Thus ends the section on witnesses.
Sutra 34
ब्राह्मणोदकुम्भाग्निसकाशे साक्षिणः परिगृह्णीयात् ॥ कZ_०३.११.३४ ॥
Witnesses should be received (and sworn) in the presence of a Brāhmaṇa, a water-jar, and fire.
Sutra 35
तत्र ब्राह्मणं ब्रूयात्सत्यं ब्रूहि इति ॥ कZ_०३.११.३५ ॥
There, one should address a Brāhmaṇa (witness): “Speak the truth.”
Sutra 36
राजन्यं वैश्यं वा मा तवेष्टापूर्तफलं कपालहस्तः शत्रुकुलं भिक्षार्थी गच्छेः इति ॥ कZ_०३.११.३६ ॥
To a Kṣatriya or a Vaiśya (witness, one should say): “May the fruit of your sacrifices and public benefactions not accrue to you; may you, with a begging bowl in hand, go to an enemy’s house to seek alms.”
Sutra 37
शूद्रं जन्ममरणान्तरे यद्वः पुण्यफलं तद् राजानं गच्छेद् राज्ञश्च किल्बिषं युष्मानन्यथावादे दण्डश्चानुबद्धः पश्चादपि ज्ञायेत यथादृष्टश्रुतमेकमन्त्राः सत्यमुपहरत इति ॥ कZ_०३.११.३७ ॥
To a Śūdra (witness, one should say): “Whatever merit accrues to you between birth and death, may it pass to the king; and may the king’s demerit fall upon you. If you speak otherwise, punishment is attached, and even later it may become known. Therefore, in one accord, present the truth exactly as seen and heard.”
Sutra 38
अनुपहरतां सप्तरात्रादूर्ध्वं द्वादशपणो दण्डः त्रिपक्षादूर्ध्वमभियोगं दद्युः ॥ कZ_०३.११.३८ ॥
For those who do not present (their testimony), after seven nights the penalty is twelve paṇas; and after three fortnights, a charge/complaint may be lodged (against them).
Sutra 50
दूरस्थानप्रसारान्वा स्वामिवाक्येन साधयेत् ॥ कZ_०३.११.५०च्द् ॥
Or, in the case of persons located far away, he should secure their attendance/statement by the authority of the sovereign’s order.
Predictable credit terms and strict anti-fraud penalties reduce private coercion and litigation noise, keep trade capital circulating (including forest and maritime routes), protect vulnerable debtors via limitation exceptions, and thereby stabilize production and the taxable base—supporting kośa and public order.
Procedural and fraud penalties include: prior sāhasa-daṇḍa for the doer/instigator in specified misconduct; fines such as 12 paṇas for refusing to accept tendered repayment; quadruple-penalty regimes for fabricating/inflating principal or interest and for frivolous/false petitions (with restitution allocation specified: one-third by the receiver, remainder by the payer, per the text’s rule).