Comments
The Centre on Tuesday informed the Supreme Court that moratorium on repayment of loans allowed during the Covid-19 crisis can be extended by up to two years. Meanwhile, the apex court will take up the matter again on Wednesday; it indicated to the parties that there will be no more adjournment.
The RBI had allowed banks and other financial institutions to offer a six-month moratorium to individual and corporate term loan borrowers to tide over the financial crisis precipitated by the pandemic-induced lockdowns.
The government stand came a day after the six-month moratorium period ended on August 31. The Bench, headed by Justice Ashok Bhushan and comprising Justices RS Reddy and MR Shah, was hearing a plea on waiver of interest rate. It had asked the Centre and RBI to review the move to charge interest on EMIs and interest on interest during the moratorium period.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.