Anil

On clear reading of the new provisions, it seems that loans to employees are covered under the new act. Yes it would require all approvals as stipulated under the provisions of section 186 of CA, 2013. The rate of interest cannot be lower than the prevailing yield of 1 year, 3 year, 5 year or 10 year Government Security closer to the tenor of the loan as per section 186(7) of the CA, 2013.