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.
The recent resuscitation move by the Reserve Bank of India may not be enough to help small businesses stay afloat. A petition filed in the Supreme Court wants a fresh moratorium on interest on bank loans.
With the second wave of Covid-19 putting further stress on the economy, the Reserve Bank of India has launched measures to enhance fund flow for the healthcare sector and inject more liquidity into the system. Will they help?
The RBI proposes tighter rules for NBFCs and wants them classified into four categories. This is crucial for fiscal steadiness and to bring back confidence and will ensure that larger players will be screened just like banks.
In a shocking development, online fraudsters are offering easy loans and using forceful ways to humiliate customers so that they cough up the cash borrowed, leading many to commit suicide in desperation.