Lended Money from A Person

Hi i am an Indian Muslim Women having a 3 yrs old daughter. I am from Hyderabad, Telangana State. Last month i had a rewuirement of 50000 rupees. And my neighbour women told me that she can lend me 50000 rupees and after 30 days she asked me to pay 10000 rupees interest. So i have to pay total 60000 rupees for one month. She is not a Licenced Money Lender. She asked me to sign the promissory note (without any revenue stamps) for 50000 rupees with 10000 rupees interest for 30 days/1 month. 30 days havent finished. But she has started pressure on me everyday for the money. Is it leagal to collect that much interest as a common man or as a Un-Licensed Money Lender? What is the Maximum interest rate she can take as per Telangana State Government Law. If i sign on promissory note for that interest. Can i fight to reduce it or can i take time leagally to clear the amount in installments? please reply me in clear with act numbers. So that i can refer online. Thanks in advance.