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SC Loan Moratorium Case Hearing LIVE Updates: Justice Ashok Bhushan bench adjourns hearing to Nov 18

SC Loan Moratorium Case Hearing LIVE Updates: Justice Ashok Bhushan bench adjourns hearing to Nov 18

SC Loan Moratorium Case Hearing LIVE Updates: Justice Ashok Bhushan bench adjourns hearing to Nov 18
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Summary

SC Loan Moratorium Case Hearing LIVE Updates: The Supreme Court on Thursday will resume hearing in the interest waiver case. The court was set to resume it on Tuesday but adjourned it to today due to the unavailability of Solicitor General Tushar Mehta. The apex court will be hearing a batch of pleas seeking a waiver of interest charged by banks on EMIs during the RBI's six-month loan moratorium period. Justice Ashok Bhushan bench in mid-October had asked the government to implement the decision to waive compound interest payment for small borrowers during the period by November 2. The Reserve Bank of India (RBI) has notified the government's scheme of interest waiver during the moratorium period and has asked all lending institutions to take necessary action within the stipulated timeline.

Live Updates

SC Loan Moratorium Case Hearing LIVE Updates: RBI pleads to lift the stay on classification of accounts as NPA

It is pertinent to note that the Supreme Court has imposed interim orders restraining banks from classifying any account as NPAs.

MSME counsels also plea for additional reliefs.

Nov 5, 2020 12:10 PM

SC Loan Moratorium Case Hearing LIVE Updates: Supreme Court says the matter will be adjourned to November 18

Nov 5, 2020 12:08 PM

SC Loan Moratorium Case Hearing LIVE Updates: Abhishek Manu Sibghvi appears for Power Producers, seeks time to argue for additional reliefs

Nov 5, 2020 12:05 PM

SC Loan Moratorium Case Hearing LIVE Updates: Petitioner thanks Govt, RBI for waiver of interest on interest or compound interest

Petitioner to SC: Extremely grateful to the Govt, RBI for waiver of interest on interest. 

They are hand holding the small borrowers.

My plea may be disposed off.

Nov 5, 2020 12:03 PM

JUST In | Interest waiver case begins;however, Solicitor General Tushar Mehta is unavailabel today as well

Nov 5, 2020 11:57 AM

Moratorium period exceeding six months may result in vitiating overall credit discipline: RBI to SC


A loan moratorium exceeding six months might result in vitiating the overall credit discipline, which will have a debilitating impact on the process of credit creation in the economy, the Reserve Bank of India (RBI) had told the Supreme Court (SC) earlier. In an affidavit filed in the apex court in the loan moratorium case, the RBI has said that a long moratorium period could impact credit behaviour of borrowers and increase the risks of delinquencies post resumption of scheduled payments. The banking regulator fled the affidavit in pursuance to the apex court's October 5 order asking the Centre and the RBI to place on record the K V Kamath committee recommendations on debt restructuring because of COVID-19 related stress on various sectors as well as the notifications and circulars issued so far on loan moratorium.

Nov 5, 2020 11:48 AM
Availing loan restructuring from SBI? Here's all you need to know
State Bank of India (SBI) on Monday launched a portal on its website to enable customers to check whether they are eligible for restructuring as per the Reserve Bank of India's (RBI) norms.Get latest…
SC Loan Moratorium Case Hearing LIVE Updates: Justice Ashok Bhushan bench adjourns hearing to Nov 18
Nov 5, 2020 11:01 AM

SC Loan Moratorium Case Hearing LIVE Updates: Going any further from relief announced would be detrimental to economy, Centre tells SC

The Centre on October 10 had told the Supreme Court that going any further than the fiscal policy decisions already taken, such as waiver of compound interest charged on loans of up to Rs 2 crore for six months moratorium period, may be "detrimental" to the overall economic scenario, the national economy and banks may not take "inevitable financial constraints". (PTI)

Nov 5, 2020 10:35 AM

SC Loan Moratorium Case Hearing LIVE Updates: Lenders to credit interest on interest' to borrowers by Nov 5, says Centre tells SC


The Centre has informed the Supreme Court that lenders have been directed to credit in the accounts of eligible borrowers by November 5 the difference between compound interest and simple interest collected on loans of up to Rs 2 crore during the RBI’s loan moratorium scheme. The Ministry of Finance has said that after crediting this amount, the lending institutions would claim reimbursement from the Central government. In an affidavit filed in the apex court, the government has said that the ministry has issued a scheme as per which lending institutions would credit this amount in the accounts of borrowers for the 6-month loan moratorium period which was announced following the COVID-19 pandemic situation. Under the scheme, all lending institutions (as defined under clause 3 of the scheme) shall credit the difference between compound interest and simple interest in the respective accounts of eligible borrowers for the period between March 1, 2020 to August 31, 2020, the affidavit said. Continue Reading

Nov 5, 2020 9:31 AM

SC Loan Moratorium Case HIGHLIGHTS: Justice Ashok Bhushan bench adjourns hearing to Nov 5

SC Loan Moratorium Case HIGHLIGHTS: The Supreme Court on Tuesday adjourned the hearing in the interest waiver case to November 5. The court was set to resume hearing on a batch of pleas seeking a…
SC Loan Moratorium Case Hearing LIVE Updates: Justice Ashok Bhushan bench adjourns hearing to Nov 18
Nov 5, 2020 9:00 AM

SC Loan Moratorium Case Hearing LIVE Updates: Justice Ashok Bhushan bench to resume hearing today

The Supreme Court on Thursday will resume hearing in the interest waiver case. The court was set to resume it on Tuesday but adjourned it to today due to the unavailability of Solicitor General Tushar Mehta. The apex court will be hearing a batch of pleas seeking a waiver of interest charged by banks on EMIs during the RBI's six-month loan moratorium period. Justice Ashok Bhushan bench in mid-October had asked the government to implement the decision to waive compound interest payment for small borrowers during the period by November 2. The Reserve Bank of India (RBI) has notified the government's scheme of interest waiver during the moratorium period and has asked all lending institutions to take necessary action within the stipulated timeline.

Nov 5, 2020 8:50 AM