The Supreme Court will hear the interest waiver case on Wednesday, the hearing for which will begin at 10:30 am.
Petitioners have moved to SC seeking relief. The relief sorts include an extension of the moratorium, include perhaps a nominal rate being charged by the banks or the NBFCs.
So far the Supreme Court has not been inclined to grant any relief beyond interest on interest waiver.
We now have to see whether the SC pays any heed to the concerns raised by the other petitioners, the builders, the power producers, the realtors or will the Supreme Court lay this matter to rest taking into account centre’s action with respect to waiver of interest on interest – that question awaits.
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.
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