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Banks will need to refund Rs 4,500 cr compound interest to borrowers

This follows Reserve Bank of India's directive to banks to refund compound interest levied during six-months moratorium, according to Kotak Institutional Equities

Topics
Indian Banks | Reserve Bank of India | Loan repayment

Abhijit Lele  |  Mumbai 



banks
Kotak, in research note, said the impact would differ across banks based on the loan composition

will need to refund estimated Rs 4,500 crore to borrowers for compound interest charged on loans greater than Rs 2 crore. This follows Reserve Bank of India’s directive to to refund compound interest levied during six-months moratorium, according to Kotak Institutional Equities.

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First Published: Thu, April 08 2021. 23:14 IST

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