Month: March 2021

Yes Securities, the brokerage and investment arm of Yes Bank, said on Wednesday that the Supreme Court’s directive on the pandemic loan moratorium had provided much-needed clarity and that there would be no financial impact on banks as the compound interest waiver has to be reimbursed by the government. In its verdict on a series […]

[ad_1] LONDON (Reuters) – Mastercard Inc on Thursday fended off attempts to add compound interest to a UK £ 14bn ($ 19.2bn) class action lawsuit in a specialist court hearing to certify and agree to the scope of the historic case. On the first day of a two-day hearing before the Competition Appeal Tribunal (CAT), […]

[ad_1] Express news service If you had been granted a moratorium on loans or deferred your EMI payments (including credit cards) that were due between March 1, 2020 and August 31, 2020, interest is not waived and will continue to accrue. on the unpaid amount because the banks have to pay interest to depositors and […]

[ad_1] India’s Supreme Court has ordered a compound interest waiver for all borrowers who benefited from a loan moratorium last year as part of the central bank’s Covid-related relief measures. The highest court found no justification for extending the waiver of compound interest or interest on interest only for loans up to Rs 2 crore, […]

[ad_1] NEW DELHI: Supreme Court verdict in loan moratorium case – In rendering its judgment in the loan moratorium case, the Supreme Court on Tuesday ordered the complete waiver of compound interest from all borrowers. Previously, the Reserve Bank of India (RBI) had not included personal loans exceeding 2 crore rupees under the loan moratorium […]

[ad_1] Mumbai: Supreme Court decision to allow compound interest exemption for all borrowers between March and August, regardless of loan size, will cost government another ??7,000-7,500 crores. “According to our estimates, the compound interest for a six-month moratorium for all lenders is estimated at ??13,500-14,000 crores. The government had already announced relief for borrowers who […]

[ad_1] Through Express news service The Supreme Court ruled on Tuesday that compound interest on loans from all borrowers between March and August 2020 will be removed entirely. It is nothing more than a fiscal stimulus with an SC imprint and is, strangely, effective in retrospect. It may also be the first time that interest […]

[ad_1] [Story updated with judgment]The Supreme Court ruled on Tuesday that there should be no compound interest, interest on interest or criminal interest on installments that were due during the loan moratorium period from March 1 to August 31 from last year to no borrower, regardless of the loan amount. . If this interest has […]