Decision to waive off compound interest must be implemented by Nov 2: SC

We need to see concrete results on the ground, says the court as it set November 2 as the next date of hearing in the matter.

The government decision's to waive off compound interest payment for small borrowers during the six-month moratorium period should be implemented by November 2, said the Supreme Court on Wednesday, according to multiple media reports.

The government's decision is decision is welcome, but we need to see concrete results on the ground, said the court as it set November 2 as the next date of hearing in the matter, according to CNBC-TV18.

The Centre’s decision to fund the compound interest payment will come at a cost of Rs 6,500 crore, a senior government official told Business Standard earlier this week.