The apex court struck down the plea stating the reliefs sought by the petitioners are in the realm of policymaking and "we are not experts on matters of finance".
More sectors have been brought under the scheme's ambit, some eligibility criteria have been relaxed, and micro, small and medium enterprises (MSMEs) have been allowed to avail of loans for longer tenures, it said.
The RBI has not announced a blanket moratorium like it did in 2020 but has allowed borrowers time to repay and restructure loans. Read on
The CM has also requested that the deadline for the payment of principal and interest instalments against the business loan be extended by at least three months, official said.
While borrowers and businesses may be entitled to relief from the pandemic, it should not be at the cost of the banking system
On November 27 last year, the top court had asked the Centre to ensure that all steps be taken to implement its decision to forego interest on eight specified categories of loans paid up to Rs 2 crore in view of the coronavirus pandemic.
With the loan moratorium coming to an end, the deadline for restructuring proposals is fast approaching and with the possible lifting of the asset quality standstill, banks’ financials are likely to be impacted in terms of asset quality and future income.
During 2019-20 and first half of 2020-21, scheduled commercial banks (SCBs) consolidated the gains achieved after the turnaround in 2018-19, the RBI report said.
A bench comprising of Justices Ashok Bhushan, R Subhash Reddy and MR Shah had deferred the matter of interest waiver during the last hearing on December 9
The Supreme Court is hearing a batch of pleas of various bodies including from real estate and power seeking sector wise relief in view of the COVID-19 pandemic.
SC hearing on Loan Moratorium LIVE Updates: The three judge bench comprising of Justices Ashok Bhushan, R. Subhash Reddy & MR Shah is hearing the loan moratorium and interest waiver case
SC on Loan Moratorium: The three judge bench comprising of Justices Ashok Bhushan, R. Subhash Reddy & MR Shah adjourned the case to today
SC on Loan Moratorium LIVE updates: A bench headed led by Justice Ashok Bhushan will resume hearing please seeking complete waiver of interest during the moratorium period on November 5.
The Ministry of Finance had released the guidelines of the interest on interest waiver scheme on October 24.
An end to the interest waiver case will remove uncertainty over bank earnings
Who is eligible to avail the compound interest waiver scheme?
The government has released guidelines to implement the interest on interest waiver scheme. Here are all the details on what exactly the compound interest waiver scheme involves, who will benefit, eligibility criteria to avail the interest waiver scheme and other important details.
A three-judge bench asked Solicitor General Tushar Mehta what the Centre has done for the implementation of its notification for giving relief to borrowers.
The had announced a moratorium on repayment of term deposits for 3 months citing COVID-19 pandemic in March. Later it was extended till August 31 to give borrowers more time to clear payments of EMIs, without being classified as NPAs.
SC on Loan Moratorium LIVE: The three judge bench comprising of Justices Ashok Bhushan, R. Subhash Reddy & MR Shah assembled at 12 noon and announced that the matter will be taken up at the end of board (i.e. after all other cases in the list have been heard)
The financial sector will witness severe stress with the extension of the moratorium and restructuring being planned, says Brickwork Ratings
Interest waiver and loan moratorium started as an RBI scheme — and not as a government scheme to provide relief to borrowers. Ironically, now the RBI is a mute spectator
He has urged the prime minister to instruct the Finance Ministry and the RBI to include farm and agricultural loans in the moratorium package
Private consumption will be slow to pick up and this will delay the recovery in corporate investment, according to the CRISIL managing director and CEO.
A strong banking system is a necessary condition for sustainable and broad-based economic recovery