- News
- Videos News
- Government's interest waiver will add to costs, spark litigation, say Banks
Trending
Government's interest waiver will add to costs, spark litigation, say Banks
2 views | Oct 07, 2020, 04:16:39 PM | TOI.in
- Share
Bankers fear the government's decision to waive some interest payments on loans under a Covid-19 support plan will create unnecessary work for lenders and lead to more litigation, without providing much of a boost for the sagging economy. In an October 2 filing with the Supreme Court, seen by Reuters, the government said it is amending a controversial clause in a relief plan that allowed distressed borrowers to skip repayments for six months but then charged them "interest-on-interest" on the delayed payments, putting them deeper in debt. The change will waive the compounded interest component on small business loans and some personal debts from March to August.
Recommended Playlist
- 09:16
Dems In 'SHOCK' As Trump Refuses To Lift US Shutdown, Mulls ‘Game 2 Plan’ If SC Blocks Tariffs3 months ago - 04:00Modi Govt Eyes Biggest GST Shake-Up Since 2017 With Two-Tier System, Promises Massive Tax Relief6 months ago
- 08:05No Extension To Waqf Registration Deadline, Rijiju Reiterates Citing Parliament And SC Mandate2 months ago
- 00:00'Yeh Bayaan Bahadur': PM Modi Slams Opposition Over Criticism On GST Reforms4 months ago
- 03:27Slovak PM Robert Fico Blocks EU Sanctions, Demands Real Solution To Energy Crisis8 months ago
- 06:50Trump Tariffs Challenge: India's RBI Cuts Rates To Boost Growth; Revises GDP Projection10 months ago
- 07:16Indian Team To Visit US Next Week To Finalise Trade Deal Framework As Govt Faces Opposition Fire5 days ago
- 04:50US Treasury Secretary Bessent Slams India’s ‘Recalcitrance’ as Tariff War With Washington Heats Up6 months ago
- 07:30PM Modi Hails GST Reforms As 'Double Dhamaka Of Happiness Before Diwali', Slams Cong-Era Taxes5 months ago
- 08:49RBI Slashes Rates After Rupee Fall, Boosts Liquidity And Lifts India’s GDP Forecast To 7.3%2 months ago
Short Videos
Explore Every Corner
Across The Globe
Orlando Magic vs Phoenix SunsNew Zealand vs India ScorecardJoel EmbiidPakistan vs New Zealand T20 World CupPhiladelphia 76ers vs New Orleans PelicansPAK vs NZ Match Weather ForecastTaylor FritzRafael NadalAlysa Liu FamilyTristan VukcevicPakistan vs NZ StatsPaige Spiranac Net WorthCandace OwensMrBeastGautam GambhirAlysa LiuNeal KatyalShikhar DhawanCleveland Cavaliers Vs Charlotte HornetsJakub Mensik Net WorthTommaso Giacomel CollapsedSidney Crosby and Kathy Leutner Net WorthBrittany MahomesKayla NicoleMens Hockey OlympicsTravis Kelce MansionNovak Djokovic Marbella MansionWinter OlympicsT20 World CupT20 World Cup 2026 Schedule
Hot on the Web
Rajpal YadavPlato QuoteAssi ReviewSalim KhanJana NayaganDelhi MetroFunky OTT RelesaeAmitabh BachchanVijay DeverakondaToxic TeaserRaj KundraThe 50 WinnerR MadhavanKiku ShardaHouse Of The Dragon 3 TeaserSalman KhanNeena Gupta'O'Romeo' Box Office CollectionFyodor Dostoevsky QuoteRajinikanth HouseSocrates QuoteRaakshasaRanveer SinghImmanuel KantKuno National ParkEnid BlytonThe 50Border 2 Movie ReviewMichael Douglas QuoteTu Yaa Main Movie ReviewToday Gold Rate in ChennaiDelhi Weather TodayDelhi AQI TodayMumbai AQI TodayMaharashtra Public Holidays 2026Julie SweetsAsha SharmaSam AltmanFemale King CobraMark ZuckerbergTata Punch Ev Facelift
Trending Topics
Travis KelceMatthew StaffordMyles GarrettBill Mazeroski Passes AwayGabrielle UnionMichigan vs Duke BasketballChild Sexual AbuseBill GatesGrapefruit LeagueTarik Skubal Net WorthCaltech Scientist Shot DeadAI SummitIsrael West Bank ExpansionAbhishek SharmaBabar AzamTrump TariffsUS Stocks TodayMS DhoniSeattle SeahawksFreddie Freeman RetirementH1B VisaRussell WestbrookMumbai murderCBSE English Paper AnalysisBengaluru murderBengaluru loan scamSubhash Nagar accidentDelhi hit-and-run caseZomato delivery boyRanveer Singh threatUP POCSO courtGujarat murderIndore newsChennai rainTrump's illegal tariffsUS stocks todaySupreme Court tariff rulingTariff impact on IndiaTrump illegal tariffsHow to watch ICC T20 World Cup 2026 in USAHow to watch ICC T20 World Cup 2026 in CanadaHow to watch T20 World Cup online in India
Popular Categories
HeadlinesSports NewsBusiness NewsIndia NewsWorld NewsBollywood NewsHealth+ TipsIndian TV ShowsTechnologyTravelEtimesHealth & FitnessHow to watch T20 World Cup OnlineIndia vs Pakistan MatchAstrologyAutoWeather TodayGold Rate Today DelhiSilver Rate TodayPlatinum Rate TodayIs Bank open todayBank Holidays in February 2026Public Holidays in February 2026DeorhiTechnology NewsInternational SportsPublic HolidaysBank HolidaysT20 World Cup Squad IndiaT20 Wprld Cup Squad
Trending Videos
Macron’s Savage Dig At Trump After SCOTUS Ruling; ‘Good To Have Rule Of Law’ | WatchEpstein Strangled, Buried Young Girls In Zorro Ranch? Probe Reopens After Bone-Chilling RevealPutin To ‘WIPE OUT’ Ukraine Off Map After Zelensky Launches Attack On Missile Plant In RussiaGermany's Emergency Order To Civilians As Trump ‘Prepares’ Huge Attack On Iran'IRAN IS NOT VENEZUELA': U.S. Strike On Iran Could Ignite Region-Wide War | Watch
Latest News
Leo Horoscope Today, February 22, 2026: Prioritise softness to avoid ego clashesHorrifying moment Stanford swim star Addison Sauickie, 20, floats face down before collapsing at ACC Championships in AtlantaRussia takes Gulag out of Gulag History MuseumRepublican slams Indiana University for using H-1B visa to fill digital marketing job: 'Zero Americans qualified for that job?'Fact check: Are Drake Maye and wife Ann Michael expecting a child amid a brutal Super Bowl LX loss?What is Nathan MacKinnon’s net worth in 2026: Career earnings, contract breakdown, salary, endorsements, and moreBJP will deport infiltrators in 5 yrs if it returns to power: Amit ShahMike McCarthy addresses Aaron Rodgers future as Steelers prepare for every outcomeAvalanche kills 6 moms who bonded over the outdoorsYankees prospect Spencer Jones draws Shohei Ohtani comparisons after massive Spring Training homerIs Victor Wembanyama playing tonight vs the Sacramento Kings? Latest update on the San Antonio Spurs star's injury report (February 21, 2026)Who is James Hundley? Virginia prosecutor fired after being appointed interim US Attorney to replace Trump loyalist“I felt ashamed of who I became”: Olympian Chloe Kim opens up about the most vulnerable time in her life as Myles Garrett stands by herR Madhavan opens up about meeting wife Sarita Birje when she was his student: ‘She found my teaching interesting’Gemini Horoscope Today, February 22, 2026: Career and education see routine tasks and helpful collaborations‘Being compelled to live in India...’: MAGA commentator weighs in on H-1B worker’s visa setbackAssolda villagers to march to Panaji to protest EC to jettyFIR against two for cheating investor of Rs 50 lakh in biz venture
Copyright © 2026 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service