Lending institutions need to prepare policy to refund/adjust ‘interest on interest’ charged during moratorium period

The RBI has directed all lending institutions put in place a Board-approved policy to refund/adjust the ‘interest on interest’ charged to the borrowers during the moratorium period, i.e. March 1, 2020 to August 31, 2020 in conformity with the SC judgement awarded in this regard.The RBI has directed all lending institutions put in place a Board-approved policy to refund/adjust the ‘interest on interest’ charged to the borrowers during the moratorium period, i.e. March 1, 2020 to August 31, 2020 in conformity with the SC judgement awarded in this regard.taxmann.com Latest Statutory HappeningsRead More

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