Key takeaways from guidelines on RBI’s interest waiver scheme; know how this scheme would benefit bo

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.

from taxmann.com News https://www.taxmann.com/topstories/222330000000021018/key-takeaways-from-guidelines-on-rbi’s-interest-waiver-scheme-know-how-this-scheme-would-benefit-borrowers.aspx