The Central Government has filed a detailed affidavit before the Supreme Court in connection with the loan moratorium case, stating that the difference between compound interest and simple interest will be deposited in the account of borrowers by November 5.
The Calcutta High Court, while passing judgment on a challenge to a show cause notice issued by the registrar of a cooperative society, has said that a registrar is competent to issue show cause notices for violation of rules and byelaws.
The Supreme Court today gave the Centre and the Reserve Bank of India more time to place their decisions on record regarding the issue of waiver of interest on the suspended EMIs during the moratorium period. The court will hear the matter next on October 5.
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 has accepted the proposal by SBICAP to provide Rs 625 crore towards the construction of six identified stalled Amrapali” projects from NOIDA and Greater NOIDA Group, covering around 7,000 residential units, and ensure that the unfinished projects are completed at the earliest.