Lenders to credit 'interest on interest' to borrowers account by November 5, Centre tells SC

"Under the scheme, all lending institutions (as defined under clause 3 of the scheme) shall credit the difference between compound interest and simple interest in the respective accounts of eligible borrowers for the period between March 1, 2020 to August 31, 2020," the govt said.

from Personal Finance News-Wealth-Economic Times https://ift.tt/35BOMts