Legal Question in Banking Law in India

You better opt for paid opinion as format will be transaction-specific and the actual signed document should protect all your interests.

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The format of Promissory note is usually as follows: -

Date : -

Place------------

ON DEMAND

I ---------------------------- s/o------------------------ residing at------------------------------------- for consideration received do promise to pay Sri---------------------------------------- (lender) (with address) or his order the sum of Rs---------- with interest at % p.a.

Revenue Stamp of one rupee

and the promissor/borrower to sign across the same

Mr.Radhakrishnan has solve your problem but better to engage any local lawyer so that borower may not refuse to return on any loose point.

Regards

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