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SC order on interest waiver: PSU Banks may have to take ₹2,000 crore hit


A view of Supreme Court of India. File
  | Photo Credit:
Sushil Kumar Verma
Meanwhile, Indian Banks’ Association (IBA) has written to the government to compensate lenders for interest on interest waiver.
Public sector banks may have to bear a burden of ₹1,800-2,000 crore arising due to a recent Supreme Court judgement on the waiver of compound interest on all loan accounts which opted for moratorium during March-August 2020, sources said.
The judgement covers loans above ₹2 crore as loans below this got blanket interest on interest waiver in November last year. Compound interest support scheme for loan moratorium cost the government ₹5,500 crore during 2020-21 and the scheme covered all borrowers including the prompt one who did not avail moratorium. ....

Supreme Court , Indian Bank Association , Reserve Bank , Interest Waiver , உச்ச நீதிமன்றம் , இந்தியன் வங்கி சங்கம் , இருப்பு வங்கி , ஆர்வம் தள்ளுபடி ,

Top news of the day: Bodies of 17 jawans recovered from Chhattisgarh forest; Modi asks central teams to visit Maharashtra in view of its COVID-19 situation, and more


Three of them Umar Bahadar, Nasarullah and Samiullah have been convicted for the first time since the Anti-Terrorism Court (ATC) Lahore pronounced its verdict some time ago in the terror financing cases registered by the Counter-Terrorism Department (CTD) of the Punjab police. The other two JuD spokesperson Yahya Mujahid and senior leader Prof Zafar Iqbal had already been convicted for many years in other terror financing cases.
In the biggest city of Yangon, one group marched through the Insein district chanting and singing protest songs and cradling eggs bearing the slogan “Spring Revolution.” Many of the eggs also bore a drawing of the three-fingered salute, a symbol of resistance to the February 1 coup. ....

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Why we need uniform micro loan regulations


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