Interest Waiver During Loan Moratorium
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Centre's Interest Waiver Plan Fails To Deal With "Many Issues": Top Court
The Supreme Court today said the centre's affidavit on waiving "interest on interest" on loans up to Rs 2 crore, frozen during a six-month moratorium granted because of the coronavirus crisis, was not satisfactory and asked for a do-over in a week. The affidavit "fails to deal with several issues raised by petitioners", the court said. The central ...
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On Loan Moratorium And Interest Payments, Centre's October 1 Deadline
The Centre has to take a call by October 1 on how much time it will give to borrowers who have not been able to repay loans due to the coronavirus pandemic. It also has to decide whether they have to pay interest for this period, the Supreme Court said today. The government got a week's time from the Supreme Court today, by the end of which it has ...
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Supreme Court Gives Centre 1 More Week To Submit Loan Moratorium Plan
The Supreme Court today allowed the government one more week to come up with a plan on loan moratorium to ease the financial burden on borrowers during the coronavirus crisis. The top court, which had asked the government to submit its plan on September 28, deferred the hearing till October 5 after the government sought more time. The government, h...
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Government To Submit Loan Moratorium Plan In Top Court Today
The government will present its plan today to help borrowers ease their EMI burden during the coronavirus crisis as the top court will hear final arguments in the loan moratorium case. Earlier this month, the Supreme Court had given the government two more weeks "to come up with something concrete" in the case related to an optional moratorium on r...
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Last Chance To Decide On Loan Moratorium Plan: Supreme Court To Centre
The Supreme Court today gave the government two more weeks "to come up with something concrete" to help borrowers ease their EMI burden using an optional moratorium on repayment of loans allowed during the coronavirus crisis. "What is going to happen in two weeks?... We are giving time to the centre, but take a concrete decision," the judges said a...
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Loans Under Moratorium Till August 31 Not To Be Declared NPAs: Supreme Court
Loan accounts of borrowers availing the moratorium will not be declared as non-performing assets - or bad loans - till further order, the Supreme Court said on Thursday. The top court was hearing a batch of petitions seeking a waiver of interest on deferred EMIs during the moratorium period, which was introduced by the Reserve Bank of India (RBI) t...
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Banks Free To Restructure Loans, But Can't Penalise Borrowers, Supreme Court Told
Banks are free to restructure loans, but they cannot penalise honest borrowers by charging interest on deferred EMIs under the moratorium scheme, a petitioner said in the Supreme Court on Wednesday. The top court was hearing a batch of petitions seeking a waiver of interest on deferred EMIs during the moratorium period, which was introduced by the ...
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No Loan Interest Waiver For Middle Class, Rahul Gandhi Slams "Suit Boot Ki Sarkar"
Congress leader Rahul Gandhi today attacked the government over interest on deferred loan payments and asked why it gave tax benefits of Rs 1.45 lakh crore to businesses but did not waive interest on loans for the middle class.
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You Locked Down Whole Country, Now Give Relief: Supreme Court To Centre
The top court was hearing petitions that wanted waiver of interest on loan repayment during moratorium period, announced due to the coronavirus lockdown.
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Uday Kotak Suggests Cash Benefits For Those Had Salaries Under Rs 25,000 And Lost Jobs During COVID-19
He also said that giving a waiver of interest for a six-month moratorium on loan repayment would rupture the financial system
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Supreme Court Seeks Finance Ministry's Reply On Waiver Of Interest During Moratorium Period
The Supreme Court today sought the Finance Ministry's reply on waiver of interest on loans during the moratorium period after the RBI said it would not be prudent to go for a "forced waiver of interest" risking financial viability of the banks.
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Clarify Stand On Waiving Interest During Moratorium, Top Court Tells Finance Ministry
The RBI had petitioned the Supreme Court that there cannot be an interest waiver on term loan repayment during moratorium as this would affect banks' finances.
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Interest Waiver During Loan Moratorium Will Affect Banks' Stability, RBI Tells Supreme Court
There cannot be an interest waiver during moratorium on term loan repayment as such a move will put the financial health and stability of banks at risk, the Reserve Bank of India (RBI) told the Supreme Court.
-
Centre's Interest Waiver Plan Fails To Deal With "Many Issues": Top Court
The Supreme Court today said the centre's affidavit on waiving "interest on interest" on loans up to Rs 2 crore, frozen during a six-month moratorium granted because of the coronavirus crisis, was not satisfactory and asked for a do-over in a week. The affidavit "fails to deal with several issues raised by petitioners", the court said. The central ...
-
On Loan Moratorium And Interest Payments, Centre's October 1 Deadline
The Centre has to take a call by October 1 on how much time it will give to borrowers who have not been able to repay loans due to the coronavirus pandemic. It also has to decide whether they have to pay interest for this period, the Supreme Court said today. The government got a week's time from the Supreme Court today, by the end of which it has ...
-
Supreme Court Gives Centre 1 More Week To Submit Loan Moratorium Plan
The Supreme Court today allowed the government one more week to come up with a plan on loan moratorium to ease the financial burden on borrowers during the coronavirus crisis. The top court, which had asked the government to submit its plan on September 28, deferred the hearing till October 5 after the government sought more time. The government, h...
-
Government To Submit Loan Moratorium Plan In Top Court Today
The government will present its plan today to help borrowers ease their EMI burden during the coronavirus crisis as the top court will hear final arguments in the loan moratorium case. Earlier this month, the Supreme Court had given the government two more weeks "to come up with something concrete" in the case related to an optional moratorium on r...
-
Last Chance To Decide On Loan Moratorium Plan: Supreme Court To Centre
The Supreme Court today gave the government two more weeks "to come up with something concrete" to help borrowers ease their EMI burden using an optional moratorium on repayment of loans allowed during the coronavirus crisis. "What is going to happen in two weeks?... We are giving time to the centre, but take a concrete decision," the judges said a...
-
Loans Under Moratorium Till August 31 Not To Be Declared NPAs: Supreme Court
Loan accounts of borrowers availing the moratorium will not be declared as non-performing assets - or bad loans - till further order, the Supreme Court said on Thursday. The top court was hearing a batch of petitions seeking a waiver of interest on deferred EMIs during the moratorium period, which was introduced by the Reserve Bank of India (RBI) t...
-
Banks Free To Restructure Loans, But Can't Penalise Borrowers, Supreme Court Told
Banks are free to restructure loans, but they cannot penalise honest borrowers by charging interest on deferred EMIs under the moratorium scheme, a petitioner said in the Supreme Court on Wednesday. The top court was hearing a batch of petitions seeking a waiver of interest on deferred EMIs during the moratorium period, which was introduced by the ...
-
No Loan Interest Waiver For Middle Class, Rahul Gandhi Slams "Suit Boot Ki Sarkar"
Congress leader Rahul Gandhi today attacked the government over interest on deferred loan payments and asked why it gave tax benefits of Rs 1.45 lakh crore to businesses but did not waive interest on loans for the middle class.
-
You Locked Down Whole Country, Now Give Relief: Supreme Court To Centre
The top court was hearing petitions that wanted waiver of interest on loan repayment during moratorium period, announced due to the coronavirus lockdown.
-
Uday Kotak Suggests Cash Benefits For Those Had Salaries Under Rs 25,000 And Lost Jobs During COVID-19
He also said that giving a waiver of interest for a six-month moratorium on loan repayment would rupture the financial system
-
Supreme Court Seeks Finance Ministry's Reply On Waiver Of Interest During Moratorium Period
The Supreme Court today sought the Finance Ministry's reply on waiver of interest on loans during the moratorium period after the RBI said it would not be prudent to go for a "forced waiver of interest" risking financial viability of the banks.
-
Clarify Stand On Waiving Interest During Moratorium, Top Court Tells Finance Ministry
The RBI had petitioned the Supreme Court that there cannot be an interest waiver on term loan repayment during moratorium as this would affect banks' finances.
-
Interest Waiver During Loan Moratorium Will Affect Banks' Stability, RBI Tells Supreme Court
There cannot be an interest waiver during moratorium on term loan repayment as such a move will put the financial health and stability of banks at risk, the Reserve Bank of India (RBI) told the Supreme Court.
