RBI vide circular dated October 26, 2020 has issued a scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts. The scheme mandates ex-gratia payment to certain categories of borrowers by way of crediting the difference between simple interest and compound interest for the period between March 1, 2020 to August 31, 2020 by respective lending institutions.
New Guidelines for Kerala Tourist Accommodation Units
The new guidelines aimed at enhancing their facilities at tourist accommodation units.