"Only Solution": Centre To Waive Compound Interest On Loans Up To 2 Crore | Read
In a huge reprieve for borrowers, the government has told the Supreme Court that it is ready to waive interest on the repayment of loans of up to ₹ 2 crore, frozen by the Reserve Bank of India (RBI) in a six-month moratorium granted because of the coronavirus pandemic. The interest waiver will apply for loans taken by MSMEs (Micro, Small and Medium Enterprises), for educational, housing, consumer goods and auto loans and for credit card dues.
