April 20, 2021

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Lenders told to refund interest on interest

The RBI has asked all lenders to compensate borrowers with interest on interest charged between March 1, 2020 and August 31, 2020. This will apply to all borrowers irrespective of whether the moratorium had been fully or partially availed, or not availed....

The RBI has asked all lenders to compensate borrowers with interest on interest charged between March 1, 2020 and August 31, 2020. This will apply to all borrowers irrespective of whether the moratorium had been fully or partially availed, or not availed.

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