NEW DELHI: The Center informed the Supreme Court on Tuesday that if it considered waiving interest on all loans and advances to all categories of borrowers during the six-month moratorium period announced by the RBI (Reserve Bank of the United States) India) in view of the Covid -19 pandemic, then …
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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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The Reserve Bank today asked all credit institutions, including non-bank financial companies, to implement the interest exemption on interest for loans up to ₹2 crore for the six-month moratorium period beginning March 1, 2020. The Center has also informed the Supreme Court that lenders have been instructed to credit the …
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As an important Diwali gift to borrowers, the Ministry of Finance has approved guidelines for an ex gratia repayment plan of the difference between compound and simple interest for six months of loans up to ₹2 crore. The guidelines emerged after the Supreme Court ordered the Center to implement “as …
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NEW DELHI: The Supreme Court said Wednesday that the center should implement “as soon as possible” interest exemption on loans of up to Rs 2 crore under the Reserve Bank of India (RBI) moratorium scheme in view of the Covid-19 pandemic, saying that the common man’s Diwali is in the …
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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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NEW DELHI – A great relief to people and MSME Borrowers, the Center informed the Supreme Court on Friday that it has decided to waive “interest on interest” on loans of up to Rs 2 million during the six-month payment moratorium, with the benefit also available to those who pay …
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On Monday, the Supreme Court adjourned the loan moratorium case until October 5, giving the Center, the Reserve Bank of India (RBI) and the banks more time to work together and present a concrete response on their position on the waiver of interest charged during the moratorium period. . The …
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