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Keyboard and Mouse

Supreme court stated on pleas for loan moratorium extension that it won’t pass any order which lead to economy going haywire.

09th December,2020

Supreme court stated on pleas for loan moratorium extension that it won’t pass any order which lead to economy going haywire.

The supreme court heard pleas for extension of loan moratorium along with petitions by specific sectors.
Solicitor general on behalf of center stated that these petitions could not be granted relief under article 32 & said that these problems need to be sector specific.
The center respondent that these large amount of waivers cannot be permitted as they would affect the economy of the country.
Solicitor general said that interest waivers cannot be an option and while supporting the center he said that many sectors are being affected in this situation but they are going with the decisions of RBI and added that this situation of pandemic cannot be dealt by one ministry.
Further, VV Giri argued on behalf of RBI and said that this decision should remain to the bank & not to the borrowers.

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