Relief on NPAs extended after govt tells interest issue being looked into
Published On: Thursday, September 10, 2020 | By: Team KnowMyStock
Today(10th Sept.2020)The Supreme Court of India extended its interim order that no account is to be declared NPA till further orders after the Centre said an expert panel has been set up to look into the issue of interest being charged by banks on instalments deferred during the moratorium period due to the COVID-19 pandemic. The top court was hearing a batch of pleas which have raised the issue of interest being charged on instalments which were deferred during the moratorium period due to the COVID-19 pandemic. The top court granted two weeks to the Centre and Reserve Bank of India (RBI) to file the affidavit and place before it the decisions taken in this regard.
A bench of Justices Ashok Bhushan, R Subhash Reddy and M R Shah posted the matter for further hearing on September 28 and said that the court expects that the government and RBI actively consider all the issues. The bench clarified that it was giving one last opportunity and thereafter the matter will not be adjourned.
Tags: Supreme Court of India Reserve Bank of India moratorium period due to the COVID-19 pandemic. NPA
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