New Delhi: Corona Reserve from March to August 31 to repay the loan to the borrowers in the bank during the period Bank Had provided. However, collective interest was charged on those who received the deferral, without repaying the loan during that period.
Various parties, including small, micro and real estate companies, had filed a petition in the Supreme Court seeking a waiver of interest.
The Central Government, which has filed an affidavit in the Supreme Court, has said that interest will not be charged on bank loans up to Rs 2 crore.
In this case for the scheme of providing 6 months as incentive to differentiate between compound interest and sada interest for loans granted under certain credit accounts Union Cabinet Approved.
The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved an incentive of Rs 973.74 crore for six months to provide incentives to lenders to offset the difference between compound interest and SADA interest on loans disbursed under certain credit accounts (from 01.03.2020 to 31.08.2020).
In order to help small creditors recover from the stress caused by the corona Pandemic, they Installment This is to help all parties equally, whether they have a failed loan or not Incentive State of India Bank Provided by.
Guidelines for the implementation of the project have been issued with the approval of the Cabinet. Beneficiaries are eligible to avail loans below Rs. 973.74 crore approved by the Cabinet.
Micro, small and medium enterprises loans up to Rs. 2 crore
Education loans up to Rs 2 crore
Housing loan up to Rs 2 crore
Consumer goods loan up to Rs 2 crore
Credit card installments up to Rs 2 crore
Auto loans up to Rs 2 crore
Personal loans up to Rs 2 crore
Consumption loans up to Rs 2 crore
Recipients are eligible to benefit.
.
