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Nirmala Sitharaman
News Report

Loan Moratorium: Good News! Centre Waives Interest on Interest On Loans Upto 2 Crores

Finally, after months of wait the good news has knocked on the doors. This festive season the Central govt has decided to give a Diwali gift to the middle class. After months of deliberation and delay, the Central government late Friday night announced waiver of interest on interest for loans up to Rs 2 crore irrespective of whether moratorium was availed or not. The Department of Financial Services issued operational guidelines for the same. Now remember, it was the Supreme Court which asked the centre to implement the interest waiver scheme, which is likely to cost the exchequer Rs 6,500 crore.

#LoanMoratorium #InterestonInterest #COVID19 #FinanceMinistry

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