Govt to waive compound interest during moratorium for some loans: Report

Report says government's decision will benefit those clearing their dues on a variety of loans between March and August

The government has told the Supreme Court it has decided to waive "interest on interest" on loans of up to Rs 2 crore during the six-month moratorium period, the Times of India reported on Saturday.

The government's decision will benefit those clearing their dues on a variety of loans between March and August. "This category of borrowers, in whose case the compound interest will be waived, would be MSME loans and personal loans up to Rs 2 crore of the following category—MSME loans, education loans, housing loans, consumer durable loans, credit card dues, auto loans, personal loans to professionals and