SC on Loan Moratorium LIVEPage Visited: 10
SC hearing on Loan Moratorium LIVE Updates: The Supreme Court will hear a batch of petitions seeking interest waiver during the loan moratorium period today (November 19). The case was listed for November 18 (today), but the apex court adjourned the matter, Bar & Bench reported. The three-judge bench comprising of Justices Ashok Bhushan, R Subhash Reddy and MR Shah had earlier assembled on October 14, but adjourned the case till November 2. During proceedings on October 13, Justice Bhushan said that once the government has taken a decision, there wouldn’t be any need to delay it further and the apex court will pass an order.
The RBI had in March announced a moratorium on repayment of term deposits for three months, which was later extended till August 31. The move was intended to provide borrowers relief during the COVID-19 pandemic and expected to give them more time to clear payments of EMIs amid the economic fallout of the lockdown, without being classified as NPAs. On June 4, the central bank said lenders will lose Rs 2 lakh crore if interest is waived during the moratorium period. In its annual report, the central bank also said the moratorium on loan repayments could have an impact on the financial health of banks. Catch the latest updates here: