Finance Ministry issues guidelines for implementation of interest waiver on loan

As per the scheme, the lending institutions shall credit the difference between compound interest and simple interest with regard to the eligible borrowers in respective accounts for the said period irrespective of whether the borrower fully or partially availed the moratorium on repayment of loan announced by the RBI on March 27, 2020.

from Personal Finance News-Wealth-Economic Times https://ift.tt/3mgGgqh