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Govt may compensate borrowers who didn’t opt for moratorium
Govt may compensate borrowers who didn’t opt for moratorium
Amid confusion on compensation for borrowers who did not avail the six-month moratorium, the finance ministry will explore options such as cashbacks for individuals and MSMEs with debt up to Rs 2 crore and who repaid their dues on time. This is to ensure a level-playing field with those who availed the moratorium and could now be spared from being charged “interest on interest”.
Amid confusion on compensation for borrowers who did not avail the six-month moratorium, the finance ministry will explore options such as cashbacks for individuals and MSMEs with debt up to Rs 2 crore and who repaid their dues on time. This is to ensure a level-playing field with those who availed the moratorium and could now be spared from being charged “interest on interest”.