Government Issues Guidelines On Loan Relief, To Implement Scheme By November 5

The government has said that it will implement a loan relief scheme by November 5, aimed at helping borrowers during the coronavirus pandemic, and reimburse the interest on interest applicable to eligible loan repayments due between March and August. In guidelines on the loan relief released on Wednesday, the Department of Financial Services said the relief will be available to the borrowers regardless of whether they opted to defer their EMIs, either fully or partially. The government said lending institutions will first credit the amount - the difference between compound interest and simple interest for the six-month period - on eligible loans up to ₹ 2 crore, which will be reimbursed by the government as part of the scheme. NDTV is one of the leaders in the production and broadcasting of un-biased and comprehensive news and entertainment programmes in India and abroad. NDTV delivers reliable information across all platforms: TV, Internet and Mobile. Subscribe for more videos: https://www.youtube.com/user/ndtv?sub... Like us on Facebook:   / ndtv   Follow us on Twitter:   / ndtv   Download the NDTV Apps: http://www.ndtv.com/page/apps Watch more videos: http://www.ndtv.com/video?yt