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The problem, as the other borrowers see it, is that they must pay additional interest on their skipped repayments during the moratorium, which they call “interest on interest.” The borrowers including a leading real estate industry group, power utilities, shopping malls and small businesses says the scheme unfairly hits them even as many have been financially devastated by the pandemic, that the banks must forgive the interest and compound interest that accrued while their payments were suspended. Sharma says the six month reprieve, which ended on August 31, increased his debt load because of the extra interest. He is also paying monthly instalments on a $21,700 business loan, for which he did not seek a moratorium.

MELBOURNE () Unseeded American Bernarda Pera flew out of the blocks at the on Monday and trounced three times Grand Slam champion Angelique Kerber 6 0 6 4 to storm into the second round.Compatriot Venus Williams, a finalist at Melbourne Park in 2003 and 2017, also enjoyed a winning start at Margaret Court Arena, advancing with a 7 5 6 2 win over Kirsten Flipkens.Kerber, champion in 2016, came into her first meeting with Pera as the favourite but won just eight points en route to conceding the first set in 18 minutes.Pera broke the 23rd seed early in the second set to take a 3 0 before Kerber finally got on the board with a service break of her own.The match briefly looked like it was developing into a genuine contest as Kerber traded blows with the American from behind the baseline to fight back to 5 4 but Pera held her nerve to close out the contest.”I knew that I had a tough opponent but I was ready for it,” Pera said in an on court interview. “She great fighter. It was probably not her greatest match.”The first set and a half I played my game and then she fought a little bit better towards the end of the second set but I am happy to get the win.”Williams used all of her vast experience to keep things tight against Flipkens, the 40 year old making just 13 unforced errors compared to 30 from her Belgian opponent.Flipkens had come into the tournament nursing an ankle injury she picked up last month and said she was still not at her best.”After all the circumstances I have been through the last couple of weeks with my injury I cannot expect to bring out my best level, but Venus played a good match in general,” she said.”I think once you give her an opportunity, she taking it.”(Reporting by Simon Jennings in Bengaluru; Editing by Peter Rutherford)Focus on chip shortage hurting production as Japanese automakers report resultsJapanese automakers Toyota, Nissan and Honda report third quarter results this week buoyed by recovering demand in China and the United States, but a global chip shortage has clouded their earnings outlook.

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