We, at Edelweiss Housing Finance Limited, are committed to serve to make our client’s experience a rewarding one at our Company.Company’s Grievance Redressal Mechanism articulates our objective to minimize instances that give rise to customercomplaints and create a review mechanism to ensure consistently superior service behavior. 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. The Ex-Gratia Scheme was established in recognition of the UK Government’s gratitude for the service of Afghan interpreters, rather than any risk they may face. The scheme provides that the exercise of crediting the amount under the scheme shall be completed by respective lending institutions on or before 05 th November 2020. (e in b)&&0=b[e].o&&a.height>=b[e].m)&&(b[e]={rw:a.width,rh:a.height,ow:a.naturalWidth,oh:a.naturalHeight})}return b}var C="";u("pagespeed.CriticalImages.getBeaconData",function(){return C});u("pagespeed.CriticalImages.Run",function(b,c,a,d,e,f){var r=new y(b,c,a,e,f);x=r;d&&w(function(){window.setTimeout(function(){A(r)},0)})});})();pagespeed.CriticalImages.Run('/mod_pagespeed_beacon','https://www.edelweisshousingfin.com/ExGratia-Payment-Scheme/','8Xxa2XQLv9',true,false,'bzK3bh8Kwys'); Eligibility Criteria. What are the key features of the ex-gratia payment scheme? The site can be accessed through most browsers and devices; it also meets accessibility standards. 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. 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. The period reckoned for refund shall be from March 1 to August 21, 2020, that is six months period or 184 days, it said. The two most important features of the site are: One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise; two, a much improved search – well, at least we think so but you be the judge. 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. Up to date forms are always available on www.discovery.co.za under Medical Aid > Find documents and your certificates. The main features / highlights of the scheme are as under: a. 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. ":"&")+"url="+encodeURIComponent(b)),f.setRequestHeader("Content-Type","application/x-www-form-urlencoded"),f.send(a))}}}function B(){var b={},c;c=document.getElementsByTagName("IMG");if(!c.length)return{};var a=c[0];if(! (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 Of not availed of the moratorium on repayment announced by RBI vide its circular DOR.N0. 03.0081.10 dt. It may be noted that loans declared as non-performing assets as on February 29, 2020 are not eligible under the scheme. All lending institutions are advised to be guided by the provisions of the Scheme and take necessary action within the stipulated timeline. No.2/12/2020-BOA.I dated 23.10.2020) announcing the scheme for grant of ex-gratia payment of difference between Compound Interest and Simple Interest for six months to the borrowers in specified loan accounts (01.03.2020 to 31.08.2020) wherein the following issues are to be addressed in order to make the scheme more perfect: 1. //]]>. About the Scheme: Ex-Gratia Payment . !b.a.length)for(a+="&ci="+encodeURIComponent(b.a[0]),d=1;d=a.length+e.length&&(a+=e)}b.i&&(e="&rd="+encodeURIComponent(JSON.stringify(B())),131072>=a.length+e.length&&(a+=e),c=!0);C=a;if(c){d=b.h;b=b.j;var f;if(window.XMLHttpRequest)f=new XMLHttpRequest;else if(window.ActiveXObject)try{f=new ActiveXObject("Msxml2.XMLHTTP")}catch(r){try{f=new ActiveXObject("Microsoft.XMLHTTP")}catch(D){}}f&&(f.open("POST",d+(-1==d.indexOf("?")?"? Parliament has pulled breaks on approval of the ex-gratia package for members of the Executive arm of the government. On 23rd October 2020 Ministry of Finance, Government of India issued direction to all lending institutions to implement 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). We ensure prompt redressal ofall complaints and use it for effecting necessary changes to improve the services further. Kolkata: Thousands of clients of NBFC- MFIs will benefit from the scheme for grant of ex-gratia payment of the difference between compound interest and simple interest for six months to certain categories of borrowers, an official said on Thursday. Here, in this Interest Cashback Scheme on Loan Moratorium, lenders will calculate compound interest on monthly rests at the rate as on 29th Feb 2020 for 6 months. Therefore, there will be no 'interest on interest'. Disclaimer: The ex-gratia payment is subject to acceptance of Government of India /Nodal agency (State Bank of India) under this Scheme; the Company reserves the right to reverse the credit/payment in case of non-acceptance/rejection by Government / Nodal Agency of the same. COVID-19 EX GRATIA SCHEME. Please save the url of the refurbished site in your favourites as we will give up the existing site shortly and register or re-register yourselves for receiving RSS feeds for uninterrupted alerts from the Reserve Bank. Ex-gratia Payment Scheme for Phasing out Euro IV Diesel Commercial Vehicles FAQs Eligibility Criteria 1. Who is Eligible for the Ex-gratia Payment Scheme? All Rights Reserved. The Ex-Gratia Payment Scheme is the payment of the difference between the Compound Interest and the Simple Interest for six months ending 31 August 2021 to borrowers in specified loan accounts. Ex gratia application form 2020 ' ' 0 0 < < < < Please note that this form expires on 31/03/2021. or correctness of any of the statements or representation made or opinion expressed What are the eligibility criteria of the ex gratia scheme? Ex-gratia scheme 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) As per letter (F. Home Whatsnewstatic FAQs for scheme of Ex gratia payment to borrowers for difference in interest FAQs for scheme of Ex gratia payment to borrowers for difference in interest Submitted by admin on Tue, 10/27/2020 - 19:25 (function(){for(var g="function"==typeof Object.defineProperties?Object.defineProperty:function(b,c,a){if(a.get||a.set)throw new TypeError("ES3 does not support getters and setters. Scheme for Grant of Ex-gratia Payment. Sujit Talukder Friday, October 30, 2020 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 … 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). Loan accounts must be standard as of February 29, 2020. The RBI has notified the Scheme for grant of ex-gratia fee of the distinction between compound interest and easy interest for six months ending August 31, 2020. Frequently Asked Questions (FAQs) on Ex-Gratia Scheme Q. 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 Government of India has announced a Scheme for grant of ex-gratia payment of differencebetween compound interest and simple interest for six months to borrowers in specified loan accounts(01.03.2020 to 31.08.2020) (the ‘Scheme’) on October 23, 2020, which mandates ex-gratia payment tocertain categories of borrowers by way of crediting the difference between simple interest andcompound interest for the period between March 1, 2020 to August 31, 2020 by respective lendinginstitutions. 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 (01-03-2020 to 31-08-2020) (the ‘Scheme’) on 23-10-2020, which mandates ex-gratia payment to certain categories of borrowers by way of crediting the difference between simple interest and compound … 1. Main features of the ex gratia payment Scheme: For more details on the Scheme, please refer FAQs issued by the Governmenthttps://financialservices.gov.in/whatsnewstatic/faqs-scheme-ex-gratia-payment-borrowers-difference-interest. The government directed the banks to convey that in view of the COVID-19 situation. Kind of Loans and Borrowers Eligible for the Ex – Gratia Relief Scheme The scheme is eligible for those borrowers, who have taken loans before February 29, this year, and the compound interest charged from March 1, 2020, to August 31st, 2020, will get waived off. One view was that awards made by a compensation scheme should be in line with awards that would be made by a court. [CDATA[ To understand the benefits of Ex-gratia Payment Scheme, we have taken examples of home loans, personal loans and credit cards. What are the eligibility criteria of the ex gratia scheme? Under the scheme, the ex gratia payment — the difference between compound interest and simple interest for six months — will be made to borrowers whose aggregate loan sanctions and outstanding is not more than Rs 2 crore as on February 29, 2020. On 23rd October 2020 Ministry of Finance, Government of India issued direction to all lending institutions to implement 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 main features / highlights of the scheme are as under: a. 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