Loan moratorium: SC allows centre to waive compound interest, asks for action plan on November 2, 2020
The RBI had permitted all banks to allow a moratorium of six months, from March 1, 2020 to August 31, 2020. This applied to all term-loans. Given that the worst of times may not be over for many borrowers, many are in favour of extending the moratorium till December 31, 2020. The Supreme Court has extended the interim order on the moratorium till October 5, 2020
Sneha Sharon MammenOct 2020