Mr.Ramikhalsa, i guess the info. provided by you in regard to EMI per month is wrong. It must be Rs.47874.00.
When loan is received:
DEBIT Bank A/c. 15,00,000.00
CREDIT Loan A/c. 15,00,000.00
When you repay your instalment:
DEBIT Loan A/c. With Principal amount contained in the instalment
DEBIT Interest on Loan A/c With the amount of Interest in the instalment
CREDIT Bank A/c. With the whole instalment amount.