Coronavirus: Centre to waive compound interest on loans up to Rs 2 cr for 6 months

currecy

The Centre has decided to waive compound interest on loans of up to Rs 2 crore for a six-month moratorium period. The Centre agreed to waive compound interest (interest on interest) in the Supreme Court due to the coronavirus pandemic. The Centre also said it will seek due authorisation from Parliament for making appropriate grants. … Read more