Loan Moratorium: The Supreme Court has given an important decision on the loan moratorium period of six months in the coronary period. In this, the court has clearly stated that it is not possible to completely waive interest in Moratorium.
It is not possible to increase the duration of the moratorium
It has been said that it is not possible to extend the period of moratorium and give relief to a particular sector. According to the news, the Supreme Court said that it is not right to take interest on interest in Moratorium. Banks will have to return the interest charged on it. (Reuters)
Refusal to interfere in policy
The Supreme Court today refused to interfere in the loan suspension policy of the government and the Reserve Bank of India (RBI) and refused to extend the loan moratorium period of six months. (Reuters)
Banking share boom
After this decision of the Supreme Court, there was a rapid trend in banking stocks. SBI, IndusInd Bank, ICICI Bank, Axis Bank and HDFC Bank shares were trading between 2% and 2.5%. (Zee Business)
6 lakh crore rupees to be forgiven
The Center had already stated in the Supreme Court that if the interest waiver will be given on loans of all types and in every category, then about 6 lakh crore rupees will have to be given. This is a huge amount. (Reuters)
Decision on loan during COVID-19 epidemic
The Supreme Court has given its verdict today on a batch of pleas by various trade organizations, including the real estate and power sectors, seeking extension of debt adjournment and other relief in view of the COVID-19 epidemic. (Reuters)
