Wednesday, August 26, 2020

Interest on loans seen to be key to paying depositors

The Supreme Court’s stand on loan moratorium has taken the government and RBI by surprise, as they had backed interest payment on loans during the period to ensure that banks remain financially viable. RBI and government’s argument is that banks survive on deposits, which are then used to lend to individuals and companies. And, depositors get interest based on the interest that banks earn on loans.

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