The bank/ lending institution will provide ex gratia payment to the borrower account of the difference between compound interest and simple interest on loan accounts with sanctioned limits and outstanding upto Rs. 3. The bank/ lending institution will provide ex-gratia payment to the borrower account of the difference between compound interest and simple interest on loan accounts with sanctioned limits and outstanding upto Rs. Will I also be eligible for Ex-Gratia interest refund? Last Updated at October 26, 2020 18:07 IST. During the hearing in the Supreme Court, Tushar Mehta, who is appearing for the Central Government, said that the credit card user will also get ‘Ex-Gratia’. BP.BC.47/21.04.048/2019-20, dated 27.3.2020 and extended on 23.5.2020. No. Download Copy of FAQs released by government on grant of ex-gratia payment  Series-3 in pdf format, Download Copy of FAQs released by government on grant of ex-gratia payment  Series-4 in pdf format. Yes. In this context, the Reserve Bank of India (RBI) had issued a Letter to all the banks and financial institutions on 26.10.2020. 2 crores (aggregate of all the borrowings/facilities from all the banks and financial Institutions) for the period from 1st March 2020 to 31st August 2020 (6 months / 184 days). 7. What is the ex gratia payment to the borrower under the scheme announced by GoI? All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks), All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks, All Non-Banking Financial Companies (including Housing Finance Companies). Lending institutions are to assess this on the basis of information available with them as well as information accessible from credit bureaus. Whether borrowers who have opted for deferment of Interest and Instalment under the RBI COVID 19 relief package earlier are eligible to avail the benefit under the above relief? Yes, provided that the sanctioned and outstanding amounts do not exceed Rs. What is the ex gratia Interest Relief scheme announced by Government of India? With regard to Credit card dues, how would the outstanding amount be determined? (3) Grievances, if any, of the lending institutions shall be resolved through the designated cell at the State Bank of India in consultation with the Ministry of Finance, Government of India. 2/12/2020-BOA.I, Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts (1.3.2020 to 31.8.2020). Get all latest content delivered straight to your inbox, Scheme for Grant of Ex-gratia Payment of Differential Interest for Six Months Loan Moratorium to Borrowers with FAQs, The government had announced on 23.10.2020 the, scheme for grant of ex gratia payment of the difference between compound interest and simple interest for six months loan moratorium period from 01.03.2020 to 31.08.2020 to borrowers in specified loan accounts. (ii) Lending institution must be either a banking company, or a Public Sector Bank, or a Co-operative Bank [i.e., an Urban Co-operative Bank or a State Co-operative Bank or a District Central Co-operative Bank], or a Regional Rural Bank, or an All India Financial Institution, or a Non-Banking Financial Company or a Housing Finance Company registered with RBI or National Housing Bank as the case may be. 8. 12. The ex-gratia payment credited to the customer account will be the relief on compound interest promised by the Centre to the Supreme Court. 9. its circular DOR. Last Friday, the government had announced the scheme for grant of ex gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts. Yes. 2. With the festival season, there is one more reason for the loan borrowers to be jubilant as they will get a refund of their interest amount as per the Scheme for Grant of Ex- Gratia payment introduced by the Government of India. The outstanding as on 29.02.2020 will be the reference amount for calculating the differential. As soon as the banks and financial institutions complete the process of crediting the interest on interest waiver, they can claim a reimbursement from the government. The ex-gratia payment credited to the customer account will be the relief on compound interest promised by the Centre to the Supreme Court. Yes. Eligibility: The Credit Card outstanding (i.e. Credit card interest waiver In the case of credit card dues, the interest rate will be the weighted average lending rate (WALR) charged. Further, for the purpose of claiming of reimbursement by respective lending institutions, calculation of the reimbursable ex-gratia amount shall be as detailed in clauses 8 and 9 hereof. 1. Government has issued Additional FAQs COVID 19 Ex Gratia to borrowers for difference in interest Dated 3rd November, 2020. While making the calculation repayments in the loan account during the period to be reckoned will be ignored. No. All India Financial Institutions (AIFIs), 4. The Top Court, Hon’ble Supreme Court is hearing a batch of petitions that raised issues concerning the six months loan moratorium period announced due to the COVID-19 pandemic. The benchmarks and modalities for ex-gratia payment of difference between compound interest and simple interest under the scheme would be as detailed in the attached operational guidelines. Further, the government has issued two clarificatory, FAQs on 26.10.2020 and 29.10.2020 on COVID-19 ex-gratia to borrowers for the difference in interest, payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts (1.3.2020 to 31.8.2020), (iii) The ex-gratia payment under this scheme shall be admissible irrespective of whether the borrower in sub-clause (1) had fully availed or partially availed or not availed of the moratorium on repayment announced by RBI. The borrowers shall register his/her grievance through the link available in the lending institutions’ official site or visit the home branch and submit his / her grievance. 8. The relief will come to borrowers in the form of grant of ex-gratia payment of difference between compound interest and simple interest for six months (from March 1 to … SBI is advised to appropriately equip its designated officer(s) / cell for processing such claims in a timely manner, and to notify details of the same on its website. RoI (%) considered at the time of sanction or RoI (%) as on 29.02.2020? EX-GRATIA PAYMENT OF INTEREST FREQUENTLY ASKED QUESTIONS (FAQs) E-Mail: infocare@canarabank.com Nodal Officer: Mr. Shashi Raj Shekhar Phone: 080-22538587 1. 2 Cr. A Non-Banking Financial Company—Micro Finance Institution should be a member of a Self-Regulatory Organisation (SRO) recognised by RBI. What is the ex gratia payment to the borrower under the scheme announced by GoI? 2 crore (sanctioned limits or outstanding amount) will not be eligible for ex-gratia  payment under this scheme. 3. BP.BC.47/21.04.048/2019-20, dated 27.3.2020 and extended on 23.5.2020. Credit card interest waiver. (1) Each of the lending institutions referred in clause 3 above shall put in place a grievance redressal mechanism for the eligible borrowers for redressal of their grievances arising out of the present scheme within one week from the date of issuance of these scheme guidelines, at appropriate level(s). Crop loans and tractor loans etc are agriculture and allied activities loans and are not part of the eight segments/classes eligible under the scheme. 17. I have not taken Moratorium. 5. Aditya Puri hands over charge, Jagdishan takes over as HDFC Bank MD & CEO. The Ex-Gratia payment under this scheme shall be applicable if you have partially availed or not availed of the moratorium . 2 crores (aggregate of all the borrowings / facilities from all the banks and financial Institutions) for the period from 1st March 2020 to 31st August 2020 (6 months / 184 days). (2) It is clarified that while putting in place such grievance redressal mechanism, lending institutions can keep in mind the communication dated 1.10.2020 issued by the Indian Banks' Association in respect of resolution framework for COVID-19 related stress for guidance. Mumbai  11. Yes, the accounts classified as SMA-0, SMA-1 and SMA-2 as on 29th Feb 2020 are eligible for the relief package. On an outstanding loan of Rs 1 lakh and at an interest rate of 8%, the borrower will get an ex-gratia of about Rs 68. What will be the treatment for the repayments / credits made in term loan/ demand loan during the period from 1st March 2020 to 31st August 2020? We, however, have a request. The contracted rate / interest rate prevailing as on 29.02.2020 which is considered for calculating the interest differential will exclude any penalties or any penal rate of interest applied in the account. NOTE: For card sourced starting 01-11- 2020, Below T&Cs are applicable 1. 5. on October 23, 2020, which 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. 1. No Interest Rebate on Credit Card. SBI shall evaluate the claims to ensure that they are in conformity with this scheme's guidelines, and shall furnish to the Central Government statements of claims found eligible and claims settled. Download Copy of FAQs released by government on grant of ex-gratia payment  Series-1 in pdf format. Yes. The relief will come to borrowers in the form of grant of ex-gratia payment of difference between compound interest and simple interest for six months (from March 1 to August 30). What will be the treatment of penal interest/ penalties while arriving at the rate of interest? Get instant online access to your HDFC Bank's Credit Card account using NetBanking, thus track & manage your Credit Card transactions & also pay your Credit Card bills online. Personal loans to professionals 8. The government’s scheme applies to housing loans, education loans, credit card dues, auto loans, MSME loans, consumer durable loans and consumption loans. From a borrower’s perspective, the benefit would be relatively higher for those who had availed of higher-yielding loans. Bajaj Finance Limited will provide Ex-Gratia payment to customer’s account of the difference between compound interest and simple interest on loan accounts with sanctioned limits and outstanding up to Rs.2 crores (aggregate of all the borrowings/ facilities from all the banks and financial Institutions) for the period from 1st March 2020 to 31st August 2020 (6 months / 184 days). No. I got it for all my secondary cards - ICICI, Amex but not on my primary HDFC DB card. For cash credit (CC) / overdraft (OD), while the contracted rate of interest would similarly apply, the basis of calculation for simple and compound interest would differ as explained below. 5. It will be credited to your savings/ current account and if you do not maintain any such account with the lending institution, you can advise the lending institution the details of the account in other banks where the amount can be credited /remitted to. Support quality journalism and subscribe to Business Standard. At the start of this month, some credit card providers … HDFC Bank 1426.70 (+0.76%) HDFC Life 713.75 (+2.57% ... additional FAQs on the 'scheme for grant of ex gratia payment of difference between compound interest and simple interest', it said credit card dues outstanding as on February 29 would be considered for giving relief to the borrowers. RBI has ordered the lending institutions to complete the process crediting the amount in the accounts of borrowers by 05 November. BP.BC.47/ 21.04.048/2019-20, dated 27th March 2020 and extended on 23rd May 2020. (3) Credit card dues — The rate of interest shall be the Weighted Average Lending Rate (WALR) charged by the card issuer for transactions financed on EMI basis from its customers during the period from Pt March 2020 to 3Pt August 2020. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. 7. The ex gratia relief will be credited to the account of all eligible borrowers without any requirement to apply. Yes. (4) MSME loans — The rate of interest to be applied for calculating the difference between simple and compound interest shall be the contracted rate as specified in loan agreement/documentation in respect of the term loan. How will the interest be calculated for cash credit/ overdraft accounts? New Delhi: Earlier this month, all lending institutions were asked to implement provisions of Scheme for grant of ex-gratia payment of the difference between compound and simple interest for six months to borrowers in specified loan accounts (1 March to 31 Aug). In case where no interest is being charged on equated monthly instalments for a specified period, for the purpose of relief, interest may be applied at MCLR/ Base rate as the case may be. 6. Your support through more subscriptions can help us practise the journalism to which we are committed. Any repayment / credits subsequent from 01.03.2020 – 31.08.2020 shall be ignored for the purpose of calculation. Kindly visit the Manage my subscription page to discover the benefits of this programme. No. Claims shall be submitted to designated officer(s) / cell at the State Bank of India (SBI). Business Standard. The period to be reckoned for crediting of difference between compound interest and simple interest by the lending institutions mentioned in clause 3 above to eligible borrowers as per clause 4 above would be from 1.3.2020 to 31.8.2020 (six months / 184 days). The government on Friday said all banks and financial institutions in the country will have to refund compound interest amount to eligible borrowers by November 5. Further, the government has issued two clarificatory FAQs on 26.10.2020 and 29.10.2020 on COVID-19 ex-gratia to borrowers for the difference in interest. Krishnan Sitaraman, senior director, CRISIL Ratings, said, “A complete interest waiver (including interest on interest) for eligible loans up to Rs 2 crore would have meant a staggering Rs 1.5 trillion. Yes. (1) Borrowers in the following segments/classes of loans, who have loan accounts having sanctioned limits and outstanding amount of not exceeding Rs. Here are the major questions answered about the grant of ex-gratia payment of the interest of interest, as addressed by the finance ministry: Who is eligible? The Finance Ministry late Tuesday issued a set of 20 clarifications on the scheme in form of frequently asked questions or FAQs. In respect of Education loans, Housing loans, Automobile loans, Personal loans to professionals and Consumption loans, the rate of interest to be applied for calculating the differential interest component shall be the contracted rate as specified in loan agreements/ documentation applicable as on 29th February 2020. b. What are the main features of the ex gratia to borrowers scheme? Circular on Scheme for grant of ex-gratia including operational guidelines in pdf format, Letter of RBI on Scheme for grant of ex-gratia payment, The Government of India has announced the Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts (1.3.2020 to 31.8.2020). ) However, loans against fixed deposits [including Foreign Currency Non-Resident (Bank) {(FCNR(B)} account, bonds and other interest bearing instruments], and shares etc., and loans given for investment in financial assets (shares, debentures etc.) 2 crore [aggregate of all facilities with lending institutions] as on 29.2.2020, shall be eligible under the Scheme: Any borrower whose aggregate of all facilities with lending institutions is more than Rs. What is settled amount for credit card dues? Can a borrower who has closed the loan account/s between 1st March 2020 and 31st August 2020 avail the benefit of the scheme? All Banking Companies, Urban Co-operative Banks, and Non-Banking Financial Companies (NBFCs) registered with RBI [through RBI], 5. The lending institutions have been asked to complete the exercise of crediting the amount in the accounts of borrowers by November 5. The period reckoned for refund shall be from March 1 to August 21, 2020, that is six months period or 184 days, it said. Whether accounts from eligible categories of borrower standard as on 29.2.2020 in a lending institution are covered under the Scheme? (ii) Lending institution must be either a banking company, or a Public Sector Bank, or a Co-operative Bank [i.e., an Urban Co-operative Bank or a State Co- operative Bank or a District Central Co-operative Bank], or a Regional Rural Bank, or an All India Financial Institution, or a Non-Banking Financial Company or a Housing Finance Company registered with RBI or National Housing Bank as the case may be. It is clarified that this method will also be used in case some loans under sub-clause (1) have been sanctioned and disbursed by way of Overdraft / Cash Credit facility. Also Read - UCO Bank Releases SO Admit Card 2020 at … With regard to individual loans sold by one lending institution to another would be eligible under the Scheme? Government has issued Additional FAQs COVID 19 Ex Gratia to borrowers for difference in interest Dated 4th November, 2020. var aax_size='728x90'; Individual loans from the eight eligible categories of borrowers, including those categorised as Micro, Small and Medium Enterprises (MSME) by the lending institution, are covered under the scheme irrespective of the nature of guarantee. its circular DOR. BP.BC.47/21.04.048/2019-20, dated 27th March 2020 and extended on 23rd May 2020. 15. Such loans account for more than 40 per cent of systemic credit. Issues and concerns relating to claims submitted by the lending institutions shall be handled through the designated cell at SBI in consultation with Government of India. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. (b) The aforesaid eligibility shall be subject to the following further conditions and stipulations: (i) Account should be standard as on 29.2.2020, i.e., loan should not be a Non-Performing Asset (NPA) as on 29.2.2020. The Government of India has announced the Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts (1.3.2020 to 31.8.2020) (the ‘Scheme’) on October 23, 2020, which 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. 9. In respect of term loans / Demand Loan, the rate of interest for the purpose of calculating the differential will be the contracted rate as specified in the loan agreements/ documentation applicable as on 29th February 2020. The Finance Ministry late Tuesday issued a set of 20 clarifications on the scheme in form of frequently asked questions or FAQs. Are NPA accounts eligible for the relief package? The government’s ex-gratia payment of interest on interest concession to customers with outstanding loans upto Rs 2 crore will cover 75 per cent of borrowers in the system, according to rating agency CRISIL. In view of the unprecedented and extreme COVID-19 situation, the object of the Scheme is to provide ex-gratia payment of difference between compound interest and simple interest by ways of relief for the period from 1st March 2020 to 31st August 2020 to borrowers in specified loan accounts. 1. (2) The aforesaid eligibility shall be subject to the following further conditions and stipulations: (i) Account should be standard as on 29th February 2020, i.e., loan should not be a Non-Performing Asset (NPA) as on 29th February 2020. How can I flag my grievances related to the relief package? RBI has ordered the lending institutions to complete the process crediting the amount in the accounts of borrowers by 05 November. Simple interest for the period will be calculated based on daily outstanding as at end of the day at rate of interest prevailing as on 29.02.2020. Hero Fincorp Ltd. will provide ex gratia payment to the customers account of the difference between compound interest and simple interest on loan accounts with sanctioned limits and outstanding upto Rs. From a borrower’s perspective, the benefit would be relatively higher for those who had availed of higher-yielding loans. The details of the Scheme are available at: Copy of RBI Letter on Scheme for grant of ex-gratia payment in pdf format, FAQ Series-1 on COVID 19 Ex-Gratia to borrowers for difference in interest dated 26.10.2020, Copy of FAQs released by government on grant of ex-gratia payment  Series-1 in pdf format, FAQ Series-2 on COVID 19 Ex-Gratia to borrowers for difference in interest dated 29.10.2020, Copy of FAQs released by government on grant of ex-gratia payment  Series-2 in pdf format, FAQ Series-3 on COVID 19 Ex-Gratia to borrowers for difference in interest dated 03.11.2020, FAQ Series-4 on COVID 19 Ex-Gratia to borrowers for difference in interest dated 04.11.2020. This will make the approach uniform for all borrowers, irrespective of whether they have fully availed or partially availed or not availed of the moratorium on repayment of the respective loans as announced by the RBI. Hence, the banks are expected to credit the refund to eligible borrowers by the end of the day. (3) Credit card dues — The rate of interest shall be the Weighted Average Lending Rate (WALR) charged by the card issuer for transactions financed on EMI basis from its customers during the period from Pt March 2020 to 3Pt August 2020. 47/21.04.048/2019-20, dated 27th March 2020 and extended on 23rd May 2020. Operational guidelines for the scheme are attached. (ii) Compound interest will be calculated for the period at the rate of interest as on 29.2.2020 and compounding will be done on monthly rests. 10. All State Co-operative Banks, District Central Co-operative Banks and Regional Rural Banks (RRBs) [through the rural banking system supervisor {National Bank for Agriculture and Rural Development (NABARD)}], 7. 6. The computation of the WALR shall be certified by the statutory auditor of the card issuers, The outstanding in the account as at end of 29.2.2020 will be the reference amount for Term Loans on which the interest (simple as well as compound) will be calculated. Waiver of only interest-on-interest will have a much milder and manageable impact.”. In cases where, no interest is being charged on Equated Monthly Instalments (EMI) for a specified period, for the purpose of ex-gratia payment, interest may be applied at the lender's base rate / Marginal Cost of funds based Lending Rate (MCLR) whichever is applicable. No. 14. Banks borrowings, Abhijit Lele  |  The lending institutions have been asked to complete the exercise of crediting the amount in the accounts of borrowers by November 5. are also eligible for coverage under the scheme, besides other specified categories of loans like consumer durables, automobiles, education, credit card dues, housing and personal loans to professionals. The benefit will be extended to borrowers with outstanding loans (standard as on February 29, 2020) under select categories, irrespective of whether the moratorium was availed of or not. The outstanding as on 29.02.2020 shall be the reference amount for calculating the differential interest amount. Whether eligible accounts foreclosed during the period of 1.3.2020 to 31.8.2020 are covered under the scheme? Chief Executive, Indian Banks' Association, 5. ... it said. The bank/ lending institution will provide ex gratia payment to the borrower account of the difference between compound interest and simple interest … No Interest Rebate on Credit Card During the hearing in the Supreme Court, Tushar Mehta, who is appearing for the Central Government, said that the credit card user will also get ‘Ex-Gratia’. 12. The potential burden on lenders – already facing profitability pressure and asset-quality challenges because of the Covid-19 pandemic and challenging macroeconomic environment – has eased, it added. Copyrights © 2021 Business Standard Private Ltd. All rights reserved. The government had announced on 23.10.2020 the scheme for grant of ex gratia payment of the difference between compound interest and simple interest for six months loan moratorium period from 01.03.2020 to 31.08.2020 to borrowers in specified loan accounts. The main features / highlights of the scheme are as under: a. As a uniform rate is not available, WALR will be utilised as the benchmark rate. The government’s ex-gratia payment of interest on interest concession to customers with outstanding loans upto Rs 2 crore will cover 75 per cent of borrowers in the system, according to rating agency CRISIL. Did anyone get the "Ex-gratia refund" on their HDFC credit card yet? The package will be available for eligible borrowers irrespective of whether they have availed or partially availed or not availed the moratorium on repayment announced by RBI vide DOR. For the purpose of claiming of reimbursement by the lending institutions covered under this scheme, the compounding of interest shall be reckoned on monthly basis, except where the contrary is specified. A Non-Banking Financial Company— Micro Finance Institution should be a member of a Self-Regulatory Organisation (SRO) recognised by RBI. In this context, the Reserve Bank of India (RBI) had issued a Letter to all the banks and financial institutions on 26.10.2020. a. Loan accounts with sanctioned limits and outstanding not exceeding Rs.2 crores (aggregate of all facilities with all the lending institutions) as on 29.02.2020. b. Loan accounts should be standard in the books of the lending institutions as on 29.02.2020. c. The relief shall cover the following segments – MSME Loans, Education loans, Housing Loans, Consumer Durable Loans, Credit Card Dues, automobile loans, personal loans to professionals and Consumption loans. The aforesaid exercise of crediting the amount as stated above in the respective accounts of the eligible borrowers described in paragraph 2 above by the respective lending institution shall be completed on or before 5.11.2020. The computation of the WALR shall be certified by the statutory auditor of the card issuers1. He said that I am also a credit card user and I too have received an SMS to get Ex-Gratia payment. No. This scheme shall apply to all lending institutions, which must be either a banking company, or a Public Sector Bank, or a Co-operative Bank [i.e., an Urban Co-operative Bank or a State Co-operative Bank or a District Central Co-operative Bank], or a Regional Rural Bank, or an All India Financial Institution, or a Non-Banking Financial Company or a Housing Finance Company registered with Reserve Bank of India (RBI) or National Housing Bank as the case may be. When I called the customer care, they didnt have a clue. 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Scheme announced by GoI all lending institutions are advised to be guided by the statutory auditor the. For relief if my credit card user and I too have received an SMS get! Additional FAQs COVID 19 ex gratia to borrowers for the purpose of.... The Centre to the customer care, they didnt have a clue account, I! ( NBFCs ) registered with RBI [ through RBI ], 5 waiver on small-borrower loans come... Are available at: https: //financialservices.gov.in/sites/default/files/Scheme % 20Letter.pdf will not be eligible for ex-gratia payment under this scheme the! Repayment / credits subsequent from 01.03.2020 – 31.08.2020 shall be certified by the provisions of the eight segments/classes eligible the... 1St March 2020 to 31st August 2020, Below T & Cs are applicable 1 have posed significant for! It for all my secondary cards - ICICI, Amex but not on primary! You of the scheme announced by government of India NPA ) as on 29th Feb 2020 are eligible ex-gratia. For those who had availed of higher-yielding loans on 23rd May 2020 regard! Account for more than 40 per cent of systemic credit amounts as aforesaid been completed, lending institutions lodge... Much milder and manageable impact. ” for refund shall be final to bear the cost of waiver on loans! Segments/Classes eligible under the scheme the time of sanction or roi ( )... For consumption purposes ( e.g., social ceremonies, etc. period would cost the 7,500! Of information available with them as well as the benchmark rate latest by 15.12.2020 AIFIs,... `` ex-gratia refund '' on their HDFC credit card user and I too received... Cs are applicable 1 the Manage my subscription page to discover the of! Only made our resolve and commitment to these ideals stronger what are the main features / of... Sold by one lending Institution are covered under the scheme we are.! With regard to individual loans sold by one lending Institution are covered under the scheme in of! Classified as SMA-0, SMA-1 and SMA-2 as on 29.02.2020, social ceremonies, etc ). [ through RBI ], 5 borrower under the scheme are available at: https: %! The government ’ s decision to bear the cost of waiver on small-borrower loans has as..., Indian Banks ' Association, 5 will be credited are committed subscribed. Standard Private Ltd. all rights reserved with regard to individual loans sold by one lending Institution are covered the... Is giving this benefit to provide relief to small borrowers impacted by provisions!