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Monday, October 25, 2021

Government to bid before Supreme Court, loan moratorium may extend for 2 years


  • Loan Moratorium facility can be extended for 2 years on payment of the loan
  • The matter will be heard again on Wednesday i.e. Wednesday, then the Supreme Court will give its verdict

The Union Government has informed the Supreme Court about the loan Moratorium, it is quite a relief for the common people of the country. The Lone Moratorium can be extended once again. That too not for 6 or 10 and 12 months, but for the entire 24 months i.e. for two years, get rid of Loan EMI. This information has been given by the Solicitor General of India Tushar Mehta, who is appearing in the Supreme Court for the Central Government. According to him, the moratorium facility can be extended for 2 years on the payment of a debt. He said that the government is engaged in identifying the sectors with more problems.

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Wednesday will be tomorrow
The Supreme Court after hearing Solicitor General Tushar Mehta has said that the matter will be heard again on Wednesday. The verdict will then be pronounced. Many such petitions have been filed in the Supreme Court demanding an interest waiver. This interest is levied on EMIs which were suspended under Moratorium in the Corona era. On which the Supreme Court itself rebuked the RBI and the Central Government. The Supreme Court on the previous date clarified its stand to the Central Government and also asked to file an affidavit.

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Loan restructuring has also been announced
The Reserve Bank of India has announced to bring loan restructuring facilities from companies to the general public. Under which airline companies, hotels and steel-cement companies will also be able to get their loan restructured. The Reserve Bank is constantly trying to save people from this biggest tragedy in the last 100 years.

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Banks gave moratorium of 6 months
In the era of Coronavirus, when crores lost their jobs and the salary was reduced by half, the Reserve Bank showed softness in recovering EMI to provide relief. The Reserve Bank had asked banks to give loan moratorium, the duration of which has expired on August 31. During this time banks were also allowed to collect interest at the normal rate from customers. Now, this facility may be extended for 2 years directly.


Source: www.patrika.com

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