Bankers welcome SC order but brace for hit on reversal of interest

Although the Supreme Court (SC) has rejected petitions for a complete waiver of interest and extension of moratorium until the end of FY21, banks may have to refund or adjust the interest charged on a compounded basis and move to simple interest calculations between March and August 2020.

from Banking/Finance-Industry-Economic Times https://ift.tt/3re3Kys