New Delhi: A big decision has been taken today in the meeting of the Cabinet Committee and Economic Affairs chaired by PM Narendra Modi. According to information received from sources, approval has been made for interest waiver on selected loans. However, sources are telling that the Central Government will not announce it yet, as this case is pending in the Supreme Court. Through loan moratorium you can stop your EMI for some time.
During the same COVID-19 pandemic, when a large number of people were struggling with economic risk, the loan moratorium was offered by RBI. People took advantage of the exemption granted to postpone the moratorium scheme ie instalment from March to August. But his complaint was that banks are charging extra interest on the outstanding balance, meaning interest. After this, the case reached the Supreme Court.
Sources said that in the CCEA meeting, interest waiver on the loan has been received today, but in the meeting, only the interest waiver has been allowed on the selected loan. Borrowers up to Rs 2 crore will get the benefit of this. According to the proposal, interest will be waived on interest for selected loans. Ex gratia payment of interest on government interest. It is proposed to waive interest on EMI interest for loans up to Rs 2 crore. It is to be seen now when it is announced by the government.
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