Supreme Court bench led by Justice Ashok is hearingp plea(s) seeking extension of loan moratorium owing to the pandemic along with sector-specific...
Supreme Court bench led by Justice Ashok is hearingp plea(s) seeking extension of loan moratorium owing to the pandemic along with sector-specific plea's.
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2020-12-17 07:47:12
17 Dec 2020 7:49 AM GMT
This is a case where the National Disaster Management Authority should have come out, instead of handing over to the banks.
17 Dec 2020 7:49 AM GMT
26 sectors severely impacted by disaster, Kamath Committee has recognised these sectors, says Srivastava
17 Dec 2020 7:49 AM GMT
Interest over interest is also stipulated in the Circulars which means that borrowers will have to pay a penalty for taking moratorium, says Srivastava
He adds that he is unable to understand how the RBI is holding the borrowers hands with the present policy stipulations.
17 Dec 2020 7:49 AM GMT
Srivastava says that the intervention application of the IBA and the SBI circulars have been signed by the Deputy Managing Director but nowhere it has been stipulated to be a Board Approved policy.
17 Dec 2020 7:49 AM GMT
They have shown nothing on record to prove why this was done, Srivastava says
17 Dec 2020 7:48 AM GMT
Srivastava : Govt and RBI have come up with measures - for small borrowers (for loans up to 2 crores) on which I made submissions regarding discrimination.
17 Dec 2020 7:48 AM GMT
Senior Advocate Ravindra Srivastava is making rejoinder submissions.
He says that no authority seems to be looking into the grievances of the borrowers.
