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Tag: Loan Moratorium

State Bank Of India
Big Relief For Borrowers, As Cabinet Sanctions Rs 973 Cr For Loan Moratorium

Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the payment of ex-gratia amount of Rs 973.74 crore to the SBI as reimbursement related to loan moratorium.

Nirmala Sitharaman
Cabinet Approves Amendment To DICGC Act

Last year, the government raised insurance cover on deposit five-folds to Rs 5 lakh to provide support to depositors of ailing lenders like Punjab and Maharashtra Co-operative (PMC) Bank.

No Compound, Penal Interest Be Charged From Borrowers During Loan Moratorium Period: SC

New Delhi: In a relief to borrowers, the Supreme Court Tuesday directed that no compound or penal interest be charged during the six-month loan moratorium period announced last year amid the COVID-19 pandemic and the amount already charged shall be refunded, credited or adjusted. The apex court refused to interfere with the Centre’s and the […]

Loan Moratorium: Going Any Further From Relief Announced Would Be Detrimental To Economy, Centre Tells SC

New Delhi: The Centre has told the Supreme Court that going any further than the fiscal policy decisions already taken, such as waiver of compound interest charged on loans of up to Rs 2 crore for six months moratorium period, maybe “detrimental” to the overall economic scenario, the national economy and banks may not take […]