SC rejects plea to extend moratorium, rules out charging of compound interest on EMIs during moratorium period

FEMA BANKING amp; INSURANCE : The Supreme Court has directed that there should be no charging of compound interest, interest on interest, or penal interest on the instalments which were due during the loan moratorium period from March 1 to August 31 last year on any borrower, irrespective of the loan amount. If such interest has already been collected, it should either refunded to the borrower or adjusted towards the next instalments

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