Loan Moratorium

The main issues that came up were that the limited relief in waiving compound interest till Rs 2 crore was not enough in addressing the pain of the small time entrepreneurs who have lost all in the pandemic.

New Delhi (ILNS): Solicitor General Tushar Mehta today told the Supreme Court that the government will ensure that those who paid up during the moratorium period are not short-changed. Will ensure those who paid during moratorium aren't short-changed.

The loan moratorium case will now be heard by the Supreme Court on Thursday. This was decided after the Central government informed the court that their lawyer, the Solicitor General, was busy with some other matter.

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.

New Delhi (ILNS): The Central government, in its affidavit before the Supreme Court has agreed to waive off compounded interest for loans up to Rs 2 crore during the six months loan moratorium period in the wake of Covid-19 pandemic.

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The Supreme Court today indicated that while it has taken no decision yet on the issue of interest on loans during the court-ordered moratorium period, it was “inclined” to pass an order against banks charging additional interest during the period.

The Supreme Court today heard arguments in length regarding petitions demanding waiver of interest on the suspended EMIs during the moratorium period.

Central government has today informed the Supreme Court that it has filed an affidavit with reference to petitions demanding waiver of interest on the suspended EMIs during moratorium period.

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.