The Supreme Court has given the central government 2 weeks to take a concrete decision on the loan moratorium (installment payment deferment) case. On Thursday, a three-judge bench headed by Justice Ashok Bhushan said that the Central Government and the RBI are being given this last chance to decide on the Moratorium. Also, the court has extended the loan moratorium to 28 September. The Supreme Court has said that banks should not declare a Non-Performing Asset (NPA) till the repayment of any loan until this period. The next hearing will be on 28 September only.
Ongoing conversation with banks and stakeholders
The Center told the Supreme Court that it was in talks with banks and other stakeholders regarding the matter. Two to three rounds of meetings have been held in this regard and the case is being tested. The Supreme Court has also asked the Central Government to consider a petition that does not charge interest on interest. Also asked not to downgrade the credit rating of the borrowers.
Argument for customers taking loan
In the last hearing, senior advocate Kapil Sibal, on behalf of a group of customers and the Maharashtra chapter of the construction industry, had said that many people will default in loan payments if the moratorium does not increase. In this case, the expert committee should prepare a sector-wise plan. Advocate A Sundaram, on behalf of CREDAI, an association of real estate developers, had argued that it is wrong to collect interest from customers in Moratorium. This may increase non-performing assets (NPAs) in the coming years. Advocate Ranjit Kumar, on behalf of the Shopping Centers Association of India, had said that people are facing problems due to Corona. Measures should be taken to relieve them. RBI cannot just speak like a spokesperson for banks.
Lone Moratorium facility ends on 31 August
Considering the economic impact of the corona infection, the RBI provided the moratorium facility for three months in March. The facility was implemented for three months from 1 March to 31 May. Later it was extended by three more months till 31 August by RBI. That is, a total of 6 months moratorium facility has been given. On August 31, the facility is over.
What is Moratorium?
When the financial condition of the borrower deteriorates due to any natural or another calamity, there is a period of delay in payment on behalf of the borrower. The lockdown was also imposed in the country due to the Corona crisis. Due to this, a large number of people had a job crisis. To deal with this crisis, the RBI provided a 6-month moratorium. During this period, borrowers of all types were allowed to pay installments.
Uttarakhand: Late night, there was a blast at the house of the BJP District President, there was a stir in the police administration and the entire area.
In Uttarakhand, there has been a stir in the house of Nainital BJP district president Pradeep Bisht due to the blast late on Tuesday night. The cause of the blast is being investigated.
Jahangirpur Violence Case: Action on illegal construction of accused involved in Jahangirpuri violence, the bulldozer will run in some time
In the procession taken out in the Jahangirpuri area on April 16 on Hanuman Janmotsav, the encroachment and illegal construction done by the accused of the violence will be demolished. North Delhi
Army Chief Mukund Narwane's warning to China amid tension over LAC, said- Do not test our restraint
In the wake of the ongoing border dispute with China over LAC in East Ladakh, Army Chief General Manoj Mukund Narwane gave a strong message to the dragon saying that we are committed to resolve the
Russian Oil: Whose are these mysterious ships carrying Russian oil around the world? looking for owner
Crude oil from Russia is still reaching buyers around the world. But how this oil is reaching different parts of the world remains a mystery. Agencies monitoring the Russian oil business are unable to
Corona Update: Big drop in corona cases, only 8013 new cases were reported in 24 hours, death cases also decreased
The number of people getting infected with corona across the country is now gradually decreasing. The third wave of Corona is now over in a way. Even today, there has been a big decline in corona
Udaipur Murder Case: Court sent Ghaus Mohammad, Riyaz Attari, and Farhad on remand, four accused were jailed
Udaipur Murder Case: In the brutal murder of tailor Kanhaiyalal on June 28 in Udaipur, Rajasthan, the NIA court has sent the accused Ghaus Mohammad, Riyaz Attari, and Farhad Mohammad to NIA remand. At
Rahul annoyed by ED's marathon questioning: Didn't go for a lunch break; Said - How long will the questions be, ask what you want to ask today
The ED's interrogation of former Congress vice president Rahul Gandhi in the National Herald case is not taking its name to an end. More than 50 hours of questioning have been done in five days and it
Good news for the world struggling with food crisis: Shipment departs from Ukraine carrying 26 thousand tons of maize, Russia will not attack it
Good news has come for the world troubled by the food crisis, by the war between Russia and Ukraine. On Monday, a large shipment carrying 26 thousand tonnes of maize departed from Ukraine's Odesa
'Do you live on Mars?' Court reprimands Congress leader on an election petition
The Delhi High Court on Monday refused to entertain a plea of a Congress leader seeking postponement of assembly elections in five states. The petitioner said that the Omicron variant of
Congress will take out Bharat Jodo Yatra from Arunachal to Gujarat: Rahul Gandhi said - We do not have our own house for 52 years, Sonia became emotional
Congress leader Jairam Ramesh said on the third and last day of the ongoing 85th Congress session in Chhattisgarh's capital Raipur that the party is considering taking out Bharat Jodo Yatra from
