Banks oppose waiver of loan interest

Banks oppose waiver

BanksBanks oppose to the regulator and the Indian government that they are against the waving of interest during the loan moratorium period said individuals with information on the issue.

Officials from the finance ministry, the Reserve Bank of India (RBI), and the Indian Banks’ Association (IBA) alongside a couple of state-run bank chiefs got into a virtual cluster on being waived, SBI said. The bench had said the court is attempting to find some kind of harmony between the interests of banks and borrowers. “Our anxiety in these procedures is just whether the interest that has been conceded for a quarter of a year will be added to charges payable later and whether there will be interest on the interest,” it had said.

The supreme court was to hear on the issue on June 17th. 

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