A Public Interest Litigation has been filed in the Supreme Court seeking directions to the Union of India and Reserve Bank of India to permit banks to offer a moratorium on payments to borrowers for the period of June to August.
A Public Interest Litigation has been filed in the Delhi High Court seeking directions to the central government to ensure that the digitalized financial services are accessible to the visually challenged person.
New Delhi (ILNS): The Supreme Court today gave the RBI, the Centre and the banks a week’s time to file their replies and observations on the issue of loan moratorium and interest payment for sectors that have claimed they deserve repayment consideration because of the Covid-19 pandemic.
In late 2017, the common people of India were suddenly shocked to find that there was a distinct possibility that all their deposits in banks, especially public sector banks, could suddenly be locked out of their reach, consumed by the bank itself, if the bank fails or even flounders.
The Supreme Court today slammed the Centre for not taking a stand on allowing moratorium on charging of interest on loans as well as interest on interest during the moratorium period declared during pandemic.
The Supreme Court on Wednesday has confronted the Central Government over the issue of RBI loan moratorium, stating that if Centre has announced a moratorium, it must ensure the benefits are given to customers’ purposefully.