Can’t force waiver of interest on loans: RBI


While replying to a petition filed in SC challenging the charging of interest rate on loans even during the three-month moratorium period declared amid the COVID-19 pandemic and lockdown, the RBI has said the the forced waiver of interest on loans would not be prudent, nor appropriate for the financial viability of the banks. The article talks about the hardships of banks and how it has been forced to keep the interest alive to protect the depositor’s interest.

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