MUMBAI: On Monday, the Supreme Court gave the Reserve Bank of India and the Center one week to file additional affidavits on the compound interest exemption issue during the moratorium period for loans up to ₹2 crore. The higher court will hear the matter on October 13. It asked the …
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NEW DELHI / MUMBAI: Amid the confusion over compensation for borrowers who did not avail themselves of the six-month moratorium, the Ministry of Finance will explore options such as cash repayments for individuals and MSMEs with debts of up to Rs 2 million and who paid their dues on time. …
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The compound interest accrued during the six-month moratorium on the repayment of loans of up to two million rupees taken by individuals and micro, small and medium-sized enterprises (MSMEs) will not be applied, the Center told the Supreme Court in an affidavit on Friday. The moratorium was announced as part …
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NEW DELHI: The Center will waive ‘interest on interest’ charges on loans until ₹2 crore for six months through August. In an affidavit to the Supreme Court, the government said that due to unprecedented conditions “the only solution is for the government to bear the burden of waiving interest” and …
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NEW DELHI: On Thursday, the Supreme Court ordered the provisional extension of the loan moratorium until September 28, ordering banks not to label any loans as delinquent until further instructions. The high court adjourned the case for the last time, giving the Center, the Reserve Bank of India (RBI) and …
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A week after Finance Minister Nirmala Sitharaman asked banks and non-bank financial companies (NBFC) to implement a loan restructuring plan for companies facing stress related to Covid-19, the Bank of The Reserve of India (RBI) announced on Monday the financial parameters for resolution plans under the scheme. The committee has …
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[ad_1] With a further extension of the national blockade, the RBI is considering a proposal to extend the bank loan moratorium for another three months to help people and industry affected by the continued blockade to contain COVID-19. According to sources, suggestions from various sectors, including the Association of Indian …
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[ad_1] New Delhi: The Governor of the Reserve Bank of India, Shaktikanta Das, held a meeting on Saturday with the heads of the banks and reviewed the economic situation and the implementation of various measures announced by him to reduce stress in the financial system amid the COVID-19 crisis. The …
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