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SC asks govt to rollout interest waiver by November 2: Here's how it will impact banks

Updated : October 14, 2020 11:14 PM IST

The Supreme Court appeared to accept the government and RBIs argument that banks should not bear the burden of the waiver of interest on interest during the loan moratorium period.

The court has also asked the government to roll out the waiver of interest on interest within the next fortnight. This, despite the government seeking time until November 15.

The court also questioned the need for 30 days to effect "a simple waiver scheme". The apex court adjourned hearing until November 2 and said that it will expect the government to implement the waiver by then.

To find how it could impact banks, CNBC-TV18's Latha Venkatesh spoke to NS Vishwanathan, Ex-Deputy Governor of RBI; Abizer Diwanji of EY India; Bahram Vakil, Founding Partner at AZB & Partners; Sunil Shrivastava, Former Deputy MD at SBI and Former IBA Chief VG Kannan.

For more, watch the video.
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