RBI loan moratorium: Centre agrees to "handhold small borrowers", waive compounded interest for loans of up to Rs 2 crore

The compounded interest will be waived off for the "most vulnerable class of borrowers". These loans include MSME loans, education loans, housing loans, and personal loans, among others, up to the amount of Rs 2 crore.
RBI, Supreme Court
RBI, Supreme Court

In its affidavit filed before the Supreme Court, the Central government has said that it will waive compound interest on personal and small loans of up to Rs. 2 crore for the six-month loan moratorium period introduced in light of the COVID-19 pandemic.

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