The Supreme Court on Tuesday refused to extend the six-month loan moratorium period offered by the Reserve Bank of India (RBI) last year, saying that it is 'policy decision' on the part of the Centre and RBI. Delivering its verdict on a batch of petitions seeking extension of the loan moratorium period and other reliefs, the bench headed by Justice Ashok Bhushan said the top court cannot do judicial review of the Centre's financial policy decisions unless they are malafide and arbitrary.
