Loan Moratorium
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Paying Loan EMIs After Job Loss: Should You Opt For Moratorium? Check Pros And Cons
A loan moratorium offers short-term EMI relief during financial distress, but it is no longer automatic and is now granted selectively by banks.
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Government Issues Guidelines On Loan Relief, To Implement Scheme By November 5
The government on Saturday gave lenders time until November 5 to waive interest payments on a loan relief scheme aimed at helping borrowers during the coronavirus pandemic, in a move that could give relief to millions of people. In guidelines on the loan relief released on Wednesday, the Department of Financial Services said lending institutions wi...
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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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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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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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Banks Given November 5 Deadline To Implement Interest Waiver Scheme
The top court had asked the government to implement the scheme, which will bring relief to millions of borrowers, at the earliest.
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Top Court To Hear Fresh Plea On Extension Of Loan Moratorium Till Year-End
A three-judge bench ordered tagging of the fresh plea filed by lawyer Vishal Tiwari with the earlier pending petition on the issue
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Waiving Interest During Moratorium Unfair To Those Who Repaid Loans: Centre To Supreme Court
The Centre said that any "post facto" change on payment of interests would be unfair to those who kept paying their EMIs
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Borrowers Unlikely To Get Loan Moratorium Benefit As Banks Will Charge Interest Later
The three-month suspension of EMI payments may not result in a significant gains for borrowers as they will charge interest for the moratorium period, according to the moratorium scheme announced by state-owned banks
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3.2 Crore Account Holders Availed RBI's Loan Moratorium, Says Finance Ministry
Government also said that during March and April, the PSBs sanctioned loans worth Rs 5.66 lakh crore for more than 41.81 lakh accounts
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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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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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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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Top Court Lists Hearing On Centre's Interest Waiver Plan For Wednesday
The Supreme Court had earlier asked the government to consider the concerns of real estate companies and power producers in a fresh plan on interest waiver.
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Only Standard Loan Accounts As Of March 1 Can Be Recast Under Moratorium: RBI
RBI said a loan account that was due for more than 30 days as on March 1, 2020, but subsequently got regularised, will not be ineligible for resolution under the COVID-19 resolution framework.
-
Paying Loan EMIs After Job Loss: Should You Opt For Moratorium? Check Pros And Cons
A loan moratorium offers short-term EMI relief during financial distress, but it is no longer automatic and is now granted selectively by banks.
-
Government Issues Guidelines On Loan Relief, To Implement Scheme By November 5
The government on Saturday gave lenders time until November 5 to waive interest payments on a loan relief scheme aimed at helping borrowers during the coronavirus pandemic, in a move that could give relief to millions of people. In guidelines on the loan relief released on Wednesday, the Department of Financial Services said lending institutions wi...
-
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...
-
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...
-
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...
-
Banks Given November 5 Deadline To Implement Interest Waiver Scheme
The top court had asked the government to implement the scheme, which will bring relief to millions of borrowers, at the earliest.
-
Top Court To Hear Fresh Plea On Extension Of Loan Moratorium Till Year-End
A three-judge bench ordered tagging of the fresh plea filed by lawyer Vishal Tiwari with the earlier pending petition on the issue
-
Waiving Interest During Moratorium Unfair To Those Who Repaid Loans: Centre To Supreme Court
The Centre said that any "post facto" change on payment of interests would be unfair to those who kept paying their EMIs
-
Borrowers Unlikely To Get Loan Moratorium Benefit As Banks Will Charge Interest Later
The three-month suspension of EMI payments may not result in a significant gains for borrowers as they will charge interest for the moratorium period, according to the moratorium scheme announced by state-owned banks
-
3.2 Crore Account Holders Availed RBI's Loan Moratorium, Says Finance Ministry
Government also said that during March and April, the PSBs sanctioned loans worth Rs 5.66 lakh crore for more than 41.81 lakh accounts
-
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 ...
-
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 ...
-
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 ...
-
Top Court Lists Hearing On Centre's Interest Waiver Plan For Wednesday
The Supreme Court had earlier asked the government to consider the concerns of real estate companies and power producers in a fresh plan on interest waiver.
-
Only Standard Loan Accounts As Of March 1 Can Be Recast Under Moratorium: RBI
RBI said a loan account that was due for more than 30 days as on March 1, 2020, but subsequently got regularised, will not be ineligible for resolution under the COVID-19 resolution framework.
