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.
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.
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 […]
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 […]