Borrowers need fair rates, not just waiver

With portability, a large number of borrowers will move to a 1-2 percentage points lower rate and enjoy handsome savings

Harsh Roongta

A petition regarding the matter of lenders charging interest for the six-month moratorium period granted to borrowers is currently being heard in the Supreme Court. The petitioners are demanding that the interest accrued during the moratorium be waived. The lenders have correctly argued interest cannot be waived as they continue to pay interest to their depositors. The six-month interest burden is too huge for the government to bear either.  According to reports, a via media has been found. The government has reportedly agreed to bear the compound interest (interest on interest) ...