Mandatory for banks to ensure continuity of businesses: Karnataka HC directs RBI to monitor implementation of loan moratorium circular

The Court added that borrowers may seek the moratorium as a matter of right if they could establish that the growth and continuity of their business would be affected.
RBI Reserve Bank of India
RBI Reserve Bank of India

The Karnataka High Court yesterday held that the Reserve Bank of India (RBI) is required to monitor the implementation of its March 27 circular granting a loan moratorium to borrowers in the face of the COVID-19 pandemic.

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