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13 Oct, 5 tweets, 3 min read
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
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…
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…
The Bench of Justices Ashok Bhushan, R Subhash Reddy and MR Shah will take up the case for hearing at end of the board.
The case is adjourned till tomorrow, October 14 since Justice Ashok Bhushan is required to sit in a different combination of Judges in the post lunch session.

#SupremeCourt #LoanMoratorium @RBI

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14 Oct
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 Image
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
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
Read 25 tweets

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