Compound interest

Why do MSMEs rarely get compound interest on late payment claims?

Explain the plight of micro, small and medium-sized enterprises (MSMEs) when opting for payment claims under the MSME Development Act 2006, VIVEK SHARMA explains why, in practice, legal compound interest enshrined in law is rarely enforced, and offers suggestions to strengthen the law and secure the interests of MSMEs in this regard. —- MICRO, Small […]

Compound interest

Why do MSMEs rarely receive compound interest on late payment requests?

Explain the predicament of micro, small and medium enterprises (MSMEs) when opting for payment claims under the MSME Development Act, 2006, VIVEK SHARMA explains why, in practice, statutory compound interest enshrined in law is rarely enforced, and offers suggestions to strengthen the law and protect MSME interests in this regard. —- MICRO, Small and Medium […]

Compound interest

IBA contacts government for reimbursement of compound interest exemption from banks

The Association of Indian Banks (IBA) on behalf of the lenders approached the Department of Finance to repay the burden placed on them due to a recent Supreme Court ruling on waiving compound interest on all loan accounts that opted into a moratorium from March to August 2020. The Supreme Court’s March judgment ordered banks […]

Compound interest

ON MONEY: Understanding the Mysteries of Compound Interest | Characteristics

One of the financial topics that is least understood by an alarming number of Americans is interest, and in particular compound interest. In this and next week’s column, we’ll look at interest: both simple and compound, and explain all of the various descriptions of how interest is calculated. Interest can be thought of as the […]

Compound interest

How To Make Compound Interest Work Even Better For You | by Segun Ojediran, MSc

Why one particular investor realized a 700% return on investment in just one year. Photo by Andrea Piacquadio from Pexels Compound interest is powerful. It turns ordinary people into millionaires and helps the rich create even more wealth. The best part is that it happens while they do nothing! Albert Einstein once called it “The […]