BJP MP demands waiver of home loan interest during Covid-19 lockdown

BJP Rajya Sabha member from Karnataka Rajeev Chandrasekhar on Monday demanded that the Centre waive interest on home loans during the Covid-19 'force majeure' period. "For no fault of the buyers, they need not pay both rent and Equated Monthly Installment," the MP said. 'Force Majeure' clause is a contractual provision that addresses circumstances in which contractual performance becomes impossible or impractical due to events that could not be foreseen, and are not within party's control.