<h1>Waiver of penal interest approved for a port trust, subject to a reduced penalty and staged principal repayment obligations.</h1> Approval was given for a waiver of penal interest on government loans to Paradip Port Trust, subject to conditions: PPT must pay a reduced penalty computed on the penal interest outstanding as of the approval date and commence repayment of outstanding principal and accrued interest, completing repayment through two instalments across the following two financial years.