Tuesday, October 27, 2020

Key takeaways from guidelines of interest waiver on loans up to 2 Cr. under RBI moratorium scheme

The much awaited interest waiver scheme has now been announced by the Government of India. The main motto of the scheme is to provide ex-gratia payment of the difference between compound interest and simple interest by way of relief for a period from 1.3.2020 to 31.8.2020. The scheme will waive plausible levies of interest on interest against loans amount taken upto a limit of Rs. 2 crore.

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