Photo: The Hindu
Supreme Court Rejects Centre's Proposal On Waiver Of Compound Interest
The Supreme Court on October 5 rejected the Central government's affidavit regarding waiving of compound interest for a six-month moratorium period. The court noted that the affidavit did not address many issues of petitioners, and it was not followed by "consequential orders or circulars" for enforcement. While directing it… read-more
Tags: Central Governmen, Supreme Court, loans and interests, Loan Moratorium Period
Courtesy: NDTV
Photo: Live Law
Union Government Decides To Waive Compound Interest For Moratorium Period
The Centre has decided to waive compound interest on loans of MSMEs for the moratorium period of six months. Besides, loans upto Rs 2 crore by individual borrowers will also be covered under this decision. In an affidavit in the Supreme Court, the government said it has decided to "continue the tradition of hand-holding the small borrowers." It added SEBI has already provided relaxations in norms of recognizing loans as NPA.
Tags: Supreme Court, Central Governmen, Loan Moratorium Period, loans and interests
Courtesy: ANI News
