New Delhi: Good news has come out for customers taking moratorium on loan during the crisis of corona epidemic. The central government has announced to pay interest charged above interest to everyone before 5 November. It is being seen as a Diwali gift from the government. The government said that this payment will be transferred as a cashback to the customer's bank account.

It is noteworthy that after a long hearing on the loan moratorium in the apex court, the central government had said that the interest charged above the interest will be paid to give relief to the consumers. After which the top court asked to implement it as soon as possible. In the guidelines issued by the Finance Ministry, it was told that this payment will be made on or before November 5. According to the guidelines, the benefit of this central government scheme will be available to all the customers who take loans up to Rs 2 crore. There is no condition to apply for Moratorium for this. About 6500 crore rupees will be spent on the central government in making this payment.

Moratorium means if you are paying for something then it will be withheld for a fixed time. Suppose if you have taken a loan, you can stop its EMI for a few months. Yes, but this does not mean that your installment has been forgiven.

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