Ex-Gratia

    The Scheme for ex-gratia payment was launched by the Reserve Bank of India (RBI) to help customers who had suffered due to the destructive impact caused by the Covid-19 pandemic of the last year. This term means money paid without any agreement, without having any legal liability after a particular incident that has happened. Due to the outburst of this virus, people were affected in their occupation and livelihood circumstances. Thus, Ex-Gratia payments have been given, with the examples of CI and SI sums being calculated per different types of loans.

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