Loan Waiver

Loan waiver not a benefit, banks exempt from 10% TDS on OTS: CBDT clarifies

The Central Board of Direct Tax has clarified in a circular that the banks are not required to deduct 10% TDS on one-time settlement (OTS) or loan waivers.

Loan waivers for industrialists should be called 'rabdi': CM Baghel

Chhattisgarh Chief Minister Bhupesh Baghel on Saturday countered Prime Minister Narendra's Modi's criticism of 'revdi' or culture of freebies by stating that waiver of loans of big industrialists should then be called 'rabdi'. Both revdi and rabdi are types of sweets. Speaking at the inauguration of the new district of Sarangarh-Bilaigarh, Baghel said people should understand the Bharatiya Janata Party's intentions. "When the Congress government in Chhattisgarh procures rice at Rs 2,500 from farmers, gives Rs 7,000 to (landless) labourers, gives 35 kg of rice to the poor, halves electricity bill for consumption of up to 400 units and provides free education, they (BJP) call it revdi (freebies)," he said. "When we waive the loans of farmers you call it revdi, but when the loans of Rs 10 lakh crore of top ten industrialists gets written off, then it is not revdi, it is milk cake. It is rabdi," the CM said. If the BJP came to power in Chhattisgarh again "by mistake", it would never

Helping poor people top priority of Jharkhand govt policies: Governor

In his address to the Assembly at the start of the Budget Session, the governor spoke of the initiatives to create jobs in rural areas, and augment health infrastructure to fight the Covid-19 pandemic

Punjab govt waives loans worth Rs 41.48 crore of over 10,000 SC youths

The Punjab government has waived loans worth Rs 41.48 crore of 10,151 Scheduled Caste youths after they found it difficult to repay the money due to various reasons

Sukhbir Badal attacks Punjab CM on power tariff, VAT on fuel, loan waiver

Badal claimed Congress legislators had established cement tile factories and forced village sarpanches to purchase tiles from them at inflated rates

Why we need uniform micro loan regulations

The Election Commission must ban loan waiver poll promises by all political parties. If their hearts bleed for the poor, they can always use the party funds to pay off the lenders

Loan waiver, robust procurement help Yogi weather the farm storm

Of the 23 million farming households in UP, almost 21 million, or more than 90 per cent, are of small and marginal farmers with fragmented land holdings, living on low farm income

Small lenders to pay the price as RBI writes off debt of Lakshmi Vilas Bank

The Reserve Bank of India on late Thursday said Rs 3.18 billion of Tier 2 bonds of Lakshmi Vilas Bank Ltd. will be fully written down as DBS Group Holdings Ltd

Are you eligible for refund under interest waiver scheme? Check new rules

The government clarified that borrowers will be entitled to get a refund on an aggregate sum of Rs 2 crore borrowed from the banking system,

Top headlines: Infosys Q2 profit soars 20.5% YoY, SC on loan moratorium

From InfosysQ2 net profit beating estimates, SC asking govt to prepare an action plan on compound interest waiver by Nov 2, Business Standard brings you top news of the evening

Decision to waive off compound interest must be implemented by Nov 2: SC

We need to see concrete results on the ground, says the court as it set November 2 as the next date of hearing in the matter.

SC gives Centre two weeks for final proposal on loan moratorium interest

No more adjournments, says bench; next hearing Sept 28

Microfinance player urges govt to curb rumours about loan waivers

The microfinance sector has faced some new problems amidst the continuing outbreak of coronavirus and the recent lockdown caused due to it, Satya Micro Capital said in a statement

SC protects loans not declared NPAs till Aug 31 from such action for now

The Supreme Court Bench said if a loan account had not been declared bad as of the end of August, it should not be classified as NPA till the moratorium case was disposed of

Maharashtra farmers with crop loan over Rs 200,000 ineligible for waiver

This loan waiver comes over two years after the Rs 34,000 crore loan waiver announced by the then BJP-Sena government in 2017

Best of BS Opinion: Perils of loan waivers, crucial SC judgments, and more

Here's a selection of Business Standard opinion pieces for the day

Govt plans debt waiver for small distressed borrowers under insolvency law

Corporate Affairs Secretary Injeti Srinivas estimates the waiver will cost Rs 10,000 crore annually.

State-level cash support to farmers may cross Rs 30,000 crore a year

Three states, Jharkhand, Odisha and West Bengal, have already announced their own version of a cash-support scheme for farmers

Waiver politics

Populist states will have to either avoid paying banks or slash capex

Only 40% farm loan waiver in UP, Maharashtra, Punjab, Karnataka so far

Too much documentation, fund crunch at state level main reasons for delay in waiver