Consumer loans will also be eligible for the interest exemption scheme, the finance ministry clarified on Wednesday. “Consumer loans, including those backed by gold as collateral, are eligible under the interest exemption scheme,” the Finance Ministry said. On Wednesday, the ministry issued another round of frequently asked questions about the …
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In the wake of the coronavirus pandemic in the country, the Reserve Bank of India announced in March a moratorium on repayment for three months. Subsequently, the central bank extended the moratorium period until August 31. Later, a borrower from Agra filed a petition in the Supreme Court not to …
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NEW DELHI: The government’s decision to waive “interest on interest” during the March-August period loan default period it will benefit everyone with loans of up to Rs 2 crore, but if you have a home loan, especially one that was used several years ago, your savings will not be much. …
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HDFC Bank has recently published its policy for the restructuring of loans from individuals and entities that have been affected by the COVID-19 pandemic. Have a look Who is eligible for restructuring? a) Individuals and entities that are classified as standard, but are not in default for more than 30 …
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The Finance Ministry said Thursday that it has established a committee of experts to assess the impact of the “waiver of interest and waiver of interest on interest” of the COVID-19 moratorium on the economy and suggest measures to provide relief to borrowers. The committee comprised of former chairman of …
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India’s Supreme Court approved an interim order on Thursday saying that accounts not reported as non-performing assets (NPAs) as of August 31 will not be declared as NPA until further notice. The high court on Thursday heard a series of petitions seeking a waiver of interest on the loan moratorium …
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