Centre to frame scheme to waive moratorium interest; SC to hear case today

Waiver may cost Centre Rs 5,000-7,000 crore

The Union government will formulate a scheme to waive compound interest for small borrowers during the six-month moratorium period, which may come at a cost of Rs 5,000-7,000 crore.
 

A senior finance ministry official said the government would frame a Cabinet note for the scheme after getting a go-ahead from the Supreme Court, which is scheduled to hear an ongoing case related to interest waiver on moratorium loans on Monday.
 

The government will then move a money Bill in Parliament’s winter session to draw additional sum from the Consolidated Fund of India this fiscal year, the official said.
 

“But that’s