Discover and read the best of Twitter Threads about #loanMoratorium
Most recents (17)
Supreme Court vacation bench to shortly hear a plea seeking directions to grant interest free moratorium period for term loan and deferment on loan installment payments for a period of six months or till the COVID situation improves
@RBI #SupremeCourt #LoanMoratorium
#interest
@RBI #SupremeCourt #LoanMoratorium
#interest
Hearing begins
#supremecourt
#supremecourt
#SupremeCourt to shortly pronounce its verdict in the RBI #LoanMoratorium case
Pleas pertained to charging of interest on interest by banks on EMIs which have not been paid by borrowers after availing the loan moratorium scheme of RBI during March 1 to August 31 @RBI
Pleas pertained to charging of interest on interest by banks on EMIs which have not been paid by borrowers after availing the loan moratorium scheme of RBI during March 1 to August 31 @RBI
Justice MR Shah: Petitioners wanted complete waiver and sector specific reliefs.
Justice MR Shah: scope of judicial review on economic policy decisions and policy decisions with affect on economy has to be considered. Judgments have held how limited the scope is in such situations.
(RBI circular on Loan Moratorium)
#SupremeCourt will resume its hearing on the batch of petitions seeking relief in the form of extension of moratorium period beyond six months or waiver of interest on interest.
@RBI #LoanMoratorium
#SupremeCourt will resume its hearing on the batch of petitions seeking relief in the form of extension of moratorium period beyond six months or waiver of interest on interest.
@RBI #LoanMoratorium
Senior Advocate Ravindra Srivastava submits that affected parties of a disaster needs to be given a meaning of widest amplitude as envisaged by the legislature
Shrivastava: any relief given has a cost and thr government has to incur it. Financing has to be prioritized.
(RBI CIRCULAR ON LOAN MORATORIUM)
#SupremeCourt will resume its hearing on the batch of petitions seeking relief in the form of extension of moratorium period beyond six months or waiver of interest on interest.
@RBI #LoanMoratorium
#SupremeCourt will resume its hearing on the batch of petitions seeking relief in the form of extension of moratorium period beyond six months or waiver of interest on interest.
@RBI #LoanMoratorium
Senior Adv VV Giri resumes submissions for @RBI
Giri: There is a writ petition smwhich challenges the August 6 circular. That too not the circular but only a clause. We have already dealt with the eligibility clause to say who can be a borrower.
RBI CIRCULAR ON LOAN MORATORIUM:
#SupremeCourt will resume its hearing on the batch of petitions seeking relief in the form of extension of moratorium period beyond six months or waiver of interest on interest. Senior Adv V Giri for @RBI to continue arguments
#LoanMoratorium
#SupremeCourt will resume its hearing on the batch of petitions seeking relief in the form of extension of moratorium period beyond six months or waiver of interest on interest. Senior Adv V Giri for @RBI to continue arguments
#LoanMoratorium
Senior Adv V Giri: All that is required for a person to do to invoke the August 6 circular's benefit which comes with a Resolution Plan that is if the borrower is eligible.
Senior Adv Giri: The prayer for extension of date is not feasible..stand of RBI on clause 14 is that one does not have to carry the actual resolution plan...
Justice Shah: what about personal loans.
Giri: That's clause 9. I will come to that
Justice Shah: what about personal loans.
Giri: That's clause 9. I will come to that
RBI CIRCULAR ON LOAN MORATORIUM:
#SupremeCourt will resume its hearing on the batch of petitions seeking relief in the form of extension of moratorium period beyond six months or waiver of interest on interest.
@RBI #LoanMoratorium
#SupremeCourt will resume its hearing on the batch of petitions seeking relief in the form of extension of moratorium period beyond six months or waiver of interest on interest.
@RBI #LoanMoratorium
Senior lawyer Ravindra Srivastava arguing for a industry group: Disaster Management Act can override contracts in critical situation
Srivastava: Duty of government to protect those who can't protect themselves. Govt can't deny relief on basis of financial stress
@RBI
@RBI
RBI CIRCULAR ON MORATORIUM ON LOAN REPAYMENT:
A three Judge Bench of the Supreme Court to resume hearing petitions concerning moratorium on loan repayment and interest levied on interest.
#SupremeCourt #LoanMoratorium @RBI
A three Judge Bench of the Supreme Court to resume hearing petitions concerning moratorium on loan repayment and interest levied on interest.
#SupremeCourt #LoanMoratorium @RBI
During the last hearing #SupremeCourt had asked the Centre why credit-card users should be entitled to the benefit of compound interest waiver under Reserve Bank of India's (RBI) loan moratorium scheme since they are not availing loans but only using the card to purchase goods.
SG Tushar Mehta: Its now upto each individuals to figure of their restructuring plans.
Senior Adv Harish Salve appears for Indian Banks association: basic difference we wanted to explain is govt package covers all small depositors. Your lordship may see the affidavits we filed
Senior Adv Harish Salve appears for Indian Banks association: basic difference we wanted to explain is govt package covers all small depositors. Your lordship may see the affidavits we filed
(RBI circular on Loan Moratorium)
#SupremeCourt will resume its hearing on the batch of petitions seeking relief in the form of extension of moratorium period beyond six months or waiver of interest on interest.
@RBI #LoanMoratorium
#SupremeCourt will resume its hearing on the batch of petitions seeking relief in the form of extension of moratorium period beyond six months or waiver of interest on interest.
@RBI #LoanMoratorium
SC resumes hearing.
A petitioner expresses gratitude towards FinMin, RBI for handholding small borrowers
Justice MR Shah: Then withdraw your petition
A petitioner expresses gratitude towards FinMin, RBI for handholding small borrowers
Justice MR Shah: Then withdraw your petition
Solicitor-General Tushar Mehta: please have a look at Oct 9, 2020, affidavit. I am giving a broad outline without delving into the nitty grities
The banking sector, in India, has been under stress for several years now.
Both the NBFCs and banking institutions (predominantly, public sector banks) have seen substantial deterioration in their asset quality.
#banknifty #nifty50 #nifty #NASDAQ #writerslife #writing
Both the NBFCs and banking institutions (predominantly, public sector banks) have seen substantial deterioration in their asset quality.
#banknifty #nifty50 #nifty #NASDAQ #writerslife #writing
Over the past two years, we have seen many well-known names within these sectors.
The latest in the series being is the 93-year old #LakshmiVilasBank
#StockMarket #stockstowatch #sharemarket #Zomato
The latest in the series being is the 93-year old #LakshmiVilasBank
#StockMarket #stockstowatch #sharemarket #Zomato
(RBI CIRCULAR ON LOAN MORATORIUM)
#SupremeCourt will resume its hearing on the batch of petitions seeking relief in the form of extension of moratorium period beyond six months or waiver of interest on interest.
@RBI #LoanMoratorium
#SupremeCourt will resume its hearing on the batch of petitions seeking relief in the form of extension of moratorium period beyond six months or waiver of interest on interest.
@RBI #LoanMoratorium
.@RBI had earlier informed #SupremeCourt that it has asked all banks to be guided by an October 23 "Scheme for grant of ex gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts.”
The scheme would apply for the 6 month period from March 1, 2020 to August 31, 2020.
#loanmoratorium
#COVID19
#loanmoratorium
#COVID19
(RBI CIRCULAR ON LOAN MORATORIUM)
#SupremeCourt will resume its hearing on the batch of petitions seeking relief in the form of extension of moratorium period beyond six months or waiver of interest on interest.
@RBI #LoanMoratorium
#SupremeCourt will resume its hearing on the batch of petitions seeking relief in the form of extension of moratorium period beyond six months or waiver of interest on interest.
@RBI #LoanMoratorium
Centre had earlier informed the Supreme Court that the scheme formulated to give benefit of compound interest waiver to small borrowers for period of loan moratorium will be given effect to by November 5.
@RBI
@FinMinIndia
#loanmoratorium
@RBI
@FinMinIndia
#loanmoratorium
A letter circulated yersterday states that Solicitor-General Tushar Mehta would be appearing in the #CentralVista matter today, thus a request for "accomodation" in the #loanmoratorium matter would be made today with regard to appearance of the Centre.
RBI CIRCULAR ON LOAN MORATORIUM:
#SupremeCourt is scheduled to hear the batch of petitions seeking extension of #LoanMoratorium or waiver of interest on interest today.
SC was due to hear the case yesterday but due to paucity of time, the hearing was deferred till today.
@RBI
#SupremeCourt is scheduled to hear the batch of petitions seeking extension of #LoanMoratorium or waiver of interest on interest today.
SC was due to hear the case yesterday but due to paucity of time, the hearing was deferred till today.
@RBI
The @RBI in its latest affidavit before the #SupremeCourt has said that a further extension of moratorium beyond 6 months is unsustainable.
RBI also urged the SC to vacate the stay given on Banks from classifying loan accounts as NPAs.
#LoanMoratorium
RBI also urged the SC to vacate the stay given on Banks from classifying loan accounts as NPAs.
#LoanMoratorium
Centre earlier agreed to waive compounded interest for loans up to ₹2 Cr and undertook to bear the economic burden caused by it.
In the latest affidavit, Centre said that questions of financial stress management cannot be decided judicially.
#SupremeCourt #LoanMoratorium @RBI
In the latest affidavit, Centre said that questions of financial stress management cannot be decided judicially.
#SupremeCourt #LoanMoratorium @RBI
RBI CIRCULAR ON LOAN MORATORIUM:
#SupremeCourt will resume its hearing on the batch of petitions seeking relief in the form of extension of moratorium period beyond six months or waiver of interest on interest.
@RBI #LoanMoratorium
#SupremeCourt will resume its hearing on the batch of petitions seeking relief in the form of extension of moratorium period beyond six months or waiver of interest on interest.
@RBI #LoanMoratorium
The @RBI in its latest affidavit before the #SupremeCourt has said that a further extension of moratorium beyond 6 months is unsustainable.
RBI also urged the SC to vacate the stay given on Banks from classifying loan accounts as NPAs.
barandbench.com/news/litigatio…
RBI also urged the SC to vacate the stay given on Banks from classifying loan accounts as NPAs.
barandbench.com/news/litigatio…
Centre had earlier agreed to waive compounded interest for loans up to ₹2 Crores and undertook to bear the economic burden caused by it.
In the latest affidavit, Centre said that questions of financial stress management cannot be decided judicially.
barandbench.com/news/litigatio…
In the latest affidavit, Centre said that questions of financial stress management cannot be decided judicially.
barandbench.com/news/litigatio…
RBI CIRCULAR ON LOAN MORATORIUM:
#SupremeCourt today will hear matter concerning waiver of interest on interest on term loans for the period of moratorium.
The petitions before the Court had challenged the interest component of the @RBI circular on #LoanMoratorium.
#SupremeCourt today will hear matter concerning waiver of interest on interest on term loans for the period of moratorium.
The petitions before the Court had challenged the interest component of the @RBI circular on #LoanMoratorium.
Centre, in its affidavit before the #SupremeCourt, has said that the compounded interest will be waived off for the "most vulnerable class of borrowers" for loans up to the amount of Rs 2 crore.
#LoanMoratorium @RBI
barandbench.com/news/litigatio…
#LoanMoratorium @RBI
barandbench.com/news/litigatio…
Hearing begins.
Senior Counsel Kapil Sibal counters the Centre's affidavit, says a lot of figures cites in Centre's affidavit "without any basis"
Sibal requests Court to allow him to file a reply "to place facts on record".
#SupremeCourt @RBI @KapilSibal
Senior Counsel Kapil Sibal counters the Centre's affidavit, says a lot of figures cites in Centre's affidavit "without any basis"
Sibal requests Court to allow him to file a reply "to place facts on record".
#SupremeCourt @RBI @KapilSibal
RBI CIRCULAR ON MORATORIUM ON LOAN REPAYMENT:
A three Judge Bench of the Supreme Court is hearing a batch of petitions concerning moratorium on loan repayment and interest levied on interest.
#SupremeCourt #LoanMoratorium @RBI
A three Judge Bench of the Supreme Court is hearing a batch of petitions concerning moratorium on loan repayment and interest levied on interest.
#SupremeCourt #LoanMoratorium @RBI
SG Tushar Mehta tells the Court: Two or three rounds of meeting have taken place and the concerna examined.
(Mehta sought for a deferment in the hearing saying that consultations are on with Banks)
#SupremeCourt
(Mehta sought for a deferment in the hearing saying that consultations are on with Banks)
#SupremeCourt
Senior Counsel Harish Salve for IBA tells the Court that the immediate concern is that of individual borrowers. Decisions have to be taken through the Finance Ministry and not the RBI.
#SupremeCourt
#SupremeCourt
RBI CIRCULAR ON LOAN MORATORIUM:
Supreme Court will shortly begin hearing the petitions challenging the interest component of the circulars allowing Banks to grant moratorium on term loan repayment.
#SupremeCourtOfIndia @RBI
Supreme Court will shortly begin hearing the petitions challenging the interest component of the circulars allowing Banks to grant moratorium on term loan repayment.
#SupremeCourtOfIndia @RBI
The #SupremeCourt is considering the question of interest to be charged on interest as well as the powers of the Centre and the NDMA under the Disaster Management Act to provide relief on aspect of loan repayment during #COVID__19 pandemic.
#LoanMoratorium @RBI
#LoanMoratorium @RBI
The Court conducted a day long hearing yesterday when the Bench of Justices Ashok Bhushan, R Subhash Reddy and MR Shah heard arguments advanced by the petitioners.
Today, Solicitor General Tushar Mehta and Senior Counsel V Giri for RBI are scheduled to make their submissions.
Today, Solicitor General Tushar Mehta and Senior Counsel V Giri for RBI are scheduled to make their submissions.
RBI CIRCULAR ON MORATORIUM ON LOAN REPAYMENT:
Supreme Court Bench headed by Justice Ashok Bhushan will shortly commence hearing petitions which challenged the interest component of the moratorium circular.
#SupremeCourt
@RBI
Supreme Court Bench headed by Justice Ashok Bhushan will shortly commence hearing petitions which challenged the interest component of the moratorium circular.
#SupremeCourt
@RBI
Centre in its affidavit has said that the various relief measures taken by the government along with the circulars of the @RBI, particularly the August 6 circular, adequately address the grievances regarding moratorium and interest.
barandbench.com/news/litigatio…
barandbench.com/news/litigatio…
