October 2020

NEW DELHI: The Center informed the Supreme Court on Monday that by November 5, credit institutions must credit the accounts of borrowers who have received loans up to Rs 2 crore the compound interest received during the moratorium period…

In light of the unprecedented and extreme COVID-19 situation, the government has announced major relief for individuals and MSME borrowers by waiving compound interest on specified loans for a period of six months.…

The government's decision to forgo compound interest payments for small borrowers during the six-month moratorium period is expected to be implemented by Nov. 2, the Supreme Court said on Wednesday, according to multiple media…

The Centre's decision to fund compound interest payments for small borrowers during the six-month moratorium period will cost Rs.6,500 crore, a senior government official said on Tuesday.The Supreme Court is due to hear a series…

The Ministry of Finance informed the Supreme Court that the decision to bear the cost of compound interest for borrowers of loans up to Rs 2 crore for the six month moratorium was taken in the public interest in the specific context of the…

The government's move follows a firm position taken by the court that the moratorium would make no sense unless at least interest on interest is waived for the period.Most individual borrowers of home, education and personal loans as well…

The Center said it had suspended, from March 25, the application of the provisions of the Insolvency and Bankruptcy Code of 2016 (IBC) to protect corporate borrowers affected by the COVID-19 crisis.In a relief for individual borrowers and…