Moratorium on repayment of loans extendable for 2 years, Supreme Court told

  • by THO
  • 1 year ago
  • news
  • 1
NEW DELHI: The government and RBI — through solicitor general Tushar Mehta — informed the Supreme Court that the moratorium on repayment of loans is extendable for 2 years. “We are in the process of identifying the distressed sectors to vary benefits as per the impact of hit they have taken,” the SG said.
The top court said that it will hear and decide tomorrow about the bunch of petitions demanding waiver of interest, or waiver of interest on interest on the suspended EMIs (equated monthly instalments) during moratorium period.
The scheme, which was implemented to help borrowers tide over the Covid-19 crisis, ended on August 31. Borrowers had been permitted to defer loan repayments for a period of six months.

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