Centre and RBI through Solicitor General Tushar Mehta on Tuesday informed the Supreme Court that the moratorium on repayment of loans is extendable to 2 years. "We are in the process of identifying the distressed sectors to vary benefits as per the impact of hit they have taken," Mehta said.
The SC said that it will hear and decide tomorrow the bunch of petitions demanding waiver of interest, or waiver of interest on interest on the suspended EMIs during moratorium period.The moratorium scheme, which was introduced by the government to provide relief to borrowers from coronavirus pandemic, ended on August 31.
On August 26, the apex court had observed that the Centre was "hiding behind the RBI" and had asked it to reply within a week on the issue of interest being charged on instalments which have been deferred under the central bank's scheme during the moratorium period amid COVID-19 lockdown.
Centre and RBI through Solicitor General Tushar Mehta on Tuesday informed the Supreme Court that the moratorium on repayment of loans is extendable to 2 years. "We are in the process of identifying the distressed sectors to vary benefits as per the impact of hit they have taken," Mehta said.
The SC said that it will hear and decide tomorrow the bunch of petitions demanding waiver of interest, or waiver of interest on interest on the suspended EMIs during moratorium period.The moratorium scheme, which was introduced by the government to provide relief to borrowers from coronavirus pandemic, ended on August 31.
On August 26, the apex court had observed that the Centre was "hiding behind the RBI" and had asked it to reply within a week on the issue of interest being charged on instalments which have been deferred under the central bank's scheme during the moratorium period amid COVID-19 lockdown.
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