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Put in place policy to refund interest-on-interest: RBI to banks
short by Maanya Sachdeva / on 08 Apr 2021,Thursday
The Reserve Bank of India (RBI) told banks to put in place a policy to refund the interest-on-interest charged to borrowers during the loan moratorium between March 1 and August 31, 2020. This comes after the Supreme Court judgement last month when the apex court said that no compound interest will be charged for the six-month moratorium period.
short by Maanya Sachdeva / 01:57 pm on 08 Apr
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