Tag Archives: loan default

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 …

On Saturday, the government announced the exemption of compound interest on specific loans for a period of six months. Tax experts are not very happy with the plan. They believe that this scheme is useless as the net savings for a taxpayer are too small. The plan is called “Plan …

In light of the extreme and unprecedented situation of COVID-19, the government announced significant relief for borrowers and individual MSMEs by waiving compound interest on specific loans for a period of six months. Loans eligible under the scheme include MSME loans, education loans, home loans, consumer durables loans, credit card …

All lenders will credit the difference between compound interest and simple interest on loans to eligible borrowers for the period from March 1 to August 31. The Center has informed the Supreme Court that the difference in compound interest and simple interest charged during the six-month moratorium period on eight …

In a relief to borrowers at the start of the holiday season, the government announced Friday night an interest waiver on loans up to ₹2 million rupees regardless of whether or not the moratorium was applied. On October 14, the Supreme Court ordered the Center to implement “as soon as …

The government has said it will implement a loan relief plan before November 5, aimed at helping borrowers during the coronavirus pandemic and repaying interest on applicable interest on eligible loan repayments due between March and August. In the guidelines on loan relief released Wednesday, the Department of Financial Services …

On Wednesday, the Supreme Court asked the central government to implement the interest exemption scheme as soon as possible while listening to a series of petitions seeking an interest exemption during the loan moratorium. On October 3, the central government said that ‘interest on interest’ on loans of up to …

MUMBAI : Loans that were in arrears for more than 30 days on March 1, but in which the overdue amount was later repaid will not be eligible for debt consolidation under the new debt consolidation window, the Bank has clarified of the Indian Reserve. The central bank published a …

The central bank also said the ruling undermines its regulatory mandate. In March, the RBI had allowed a three-month moratorium on the equivalent monthly installments (EMI) of term loans and other loans that mature between March 1 and May 31. The moratorium was subsequently extended until August 31. The superior …

The country’s banking regulator, the Reserve Bank of India (RBI), has filed a new affidavit in the Supreme Court in the case of the loan moratorium. In the affidavit, the Reserve Bank of India (RBI) has said that it is not possible to give further relief to the sector affected …