Top Court To Hear Fresh Plea On Extension Of Loan Moratorium Till Year-End
The Supreme Court (SC) on Friday said that it will hear a fresh plea seeking extension of the Reserve Bank of India's (RBI) moratorium scheme till December this year. Under the scheme, which ends on 31 August, the RBI in March had given the facility of deferred payment of installments of term loan borrowers. Vishal Tiwari, the lawyer who had filed the plea told the 3-judge bench, headed by Justice Ashok Bhushan that the adverse impact of the pandemic over financial situation was still there and hence, the moratorium scheme needed to be extended further till year end. Now, the plea will be heard alongside the one filed by Agra resident Gajendra Sharma which is scheduled for hearing on September 1.
The top court on August 26 had heard Mr Sharma's plea and had observed that the Centre was “hiding behind the RBI” and had asked it to reply within a week on the issue of interest being charged on instalments which have been deferred under the central bank's scheme during the moratorium period amid COVID-19 lockdown. In this regard, the top court has asked the government to make its stand clear by September 1. The court said the centre had not clarified its stand even though it has "ample powers" under the Disaster Management Act to grant the waiver.
Mr Sharma has sought a direction to declare the portion of the RBI's March 27 notification "as ultra vires to the extent it charges interest on the loan amount during the moratorium period and said that it created hardship to the petitioner being borrower and creates hindrance and obstruction in ''right to life'' guaranteed by Article 21 of the Constitution of India".
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.