Stating that “it is keen to waive interest on interest” for the borrowers who availed themselves of the moratorium facility extended by the government in the wake of Covid-19, the Supreme Court on Thursday gave a ‘last chance’ to the government and the to come up with a ‘concrete plan’ with regard to the vexed issue. The court also extended the temporary immunity to the relevant loan accounts from being classified as NPA till September 28, when it will likely pronounce its final order.Meanwhile, the government-RBI-banks combine and the petitioners, comprising assorted borrowers including...…Stating that “it is keen to waive interest on interest” for the borrowers who availed themselves of the moratorium facility extended by the government in the wake of Covid-19, the Supreme Court on Thursday gave a ‘last chance’ to the government and the to come up with a ‘concrete plan’ with regard to the vexed issue. The court also extended the temporary immunity to the relevant loan accounts from being classified as NPA till September 28, when it will likely pronounce its final order.Meanwhile, the government-RBI-banks combine and the petitioners, comprising assorted borrowers including...WW…
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