stream 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 … Credit Card Dues: Weighted Average Lending rate (“WALR”) charged by Card issuer for transactions. The amount credited to the accounts of borrowers will be reimbursed by the government. Watch: Rare Gangetic dolphin beaten to death in Uttar Pradesh's Pratapgarh, No breakthrough in fresh round of Centre-farmers' talks, next meeting on January 15, Copyright © 2021 Living Media India Limited. The one who are making the payment is not obligated nor required. Enjoy the world of exciting privileges and benefits with your Axis Bank Platinum card. Credit card outstandings are also eligible. Borrowers whose loan has been closed recently but was active during the moratorium period. Ex-Gratia Payment Scheme. loan eligible for ex-gratia payment under the scheme? Fresh round of Centre-farmers' talks fail to yield any result, what's next? - Enter your Axis Bank MasterCard number and the online store will connect with Axis Bank to check whether your Card is secured with MasterCard SecureCode. Loans from informal sources such as relatives, friends, business associates and unregistered moneylenders will not be covered under ex-gratia. If you had made a purchase before 29 February and cleared it after the cut-off date, you could still be eligible for ex gratia amount. Before November 5. So, before you can make an ex gratia payment, you need to understand first its purpose and its essence. ... What is the ex gratia payment to the borrower under the scheme announced by GoI? T�֛b�_9 �I/nޣ�V�z����˞�Q����ۦ-��'Ykm��Ŋ��n�����z�g��������}�] ]���1�S�S�:&TW��u�[W�F�8I�g�t <>/XObject<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 25 0 R] /MediaBox[ 0 0 595.32 841.92] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> <> For example on an outstanding loan of Rs 1 lakh( with an interest rate of 8%), the borrower will get an ex-gratia of about Rs 68. Bank Accounts. U)(U��ß9������ߓ�Z,��̕�_nA���7�]��Wj8��U�����a��G��0J��oc�Oe��Ee�ҟ�����k�f2&��0u�E���͔BQU~G��B��W(Zl ���P���T8C�oO���vơ�s�N�/�?%�P����"pCHq��h�E�"܎J���8~�S�O��T12���x8�y�RT��r�c�|p�ʁ�c��]��!RcG�Z�����������,#�!�9?얉�n-�v�>ح�@'$Q.�f�{��0��8 2��h�f-���@ƺ#�Q�����F���hL�q�~��qf�#;4��:�� ^]�E'��?��fW��w�9���wzE�+޽���W{ؑ;�C�;l��z���5:���fw�(A�G���z��k��^�㛙��3��l�Ż�v��H%*��܃�����c��� +�A�E�%��zPYӃ��o�G�v����0l�(U�8�/)/�;��o���G�%�f�d^CUz���J��L;�*���ŋٙL�y;�>REd^a첢�z��ݡ�ح6��>�� �z���܃K���;ҋ#�J�i��ޔ%٨�]��0��y�@��R� �V����kb%��KQ �<=�����؏VԶ`�x�X���1�e����90]c��ؑ�jAɾZ�:_��������)����a�Z�����f��T�n�x��vyK��{I Borrowers who had not opted for a moratorium will also get the benefit. No. The waiver credit is expected to reach the lenders by December 15. Ex-gratia payment or waiver of interest on interest Scheme Last week, the Reserve Bank had asked all lending institutions, including non-banking financial companies, to implement the waiver of interest on interest for loans up to Rs 2 crore for the six months moratorium period beginning March 1, 2020. New Delhi: The Reserve Bank of India (RBI) issued direction on Tuesday to all lending institutions to implement provisions of Scheme for grant of ex-gratia payment of difference between compound and simple interest for six months to borrowers in specified loan accounts (1 March to 31 Aug) and take necessary action within the stipulated time. Credit card dues are eligible for ex-gratia payment of the difference between simple interest and compound interest for the moratorium period of six months i.e March 1, 2020 till August 31, 2020. 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