Shares of financial services companies were under pressure today (12th June 2020) with most of the related indices slipping over 3 percent on NSE ahead of the Supreme Court hearing on interest waiver case.
Today's scheduled Supreme Court hearing on interest loan waiver case, sought by homebuyers, on the loans under moratorium is more crucial for non-banking financial companies (NBFCs), who also have granted moratoriums to their borrowers until August. Moreover, a paper released by the Reserve Bank of India (RBI) has warned that despite interventions by the central bank and the government, the NBFC system may see deterioration in credit quality on account of Covid-19 related disruptions.
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