Sir,
We have a cc account in SBI . bank has credit Rs.1520/-In cc account where mention account no. and EX Gatia amount.what is the reason for this
6 Replies
Naveen Kumar
(629 Points)
Replied 24 February 2021
Sir,
Bank has credit Rs.1520 in cc account
where particular descripttion wrote my cc account no. ex gratia amount
Bank has credit Rs.1520 in cc account
where particular descripttion wrote my cc account no. ex gratia amount
BISHNU MOHAN NAYAK
(Student)
(82 Points)
Replied 24 February 2021
Recently govt anounced ex gratia to all borrowers amid pandemic, in which lender charged compound interest during moratorium period required to refund that amount to borrowers. Amount is diff between compound interest and simple interest. This will be credited in your bank account.
BISHNU MOHAN NAYAK
(Student)
(82 Points)
Replied 24 February 2021
When interest was charged; you must have booked as expenses now you have to account as income so net impact will be nil
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