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A Supreme Court Bench headed by Justice Ashok Bhushan is hearing petitions challenging the interest component of the moratorium circular.
The Supreme Court is hearing petitions challenging the Reserve Bank of India's move to charge interest on term loans during the moratorium period introduced in light of the COVID-19 pandemic.
The Bench of Justices Ashok Bhushan, R Subhash Reddy and MR Shah is hearing the matter.
The Centre in its affidavit has said that the various relief measures taken by the government along with the circulars of the Reserve Bank of India (RBI) particularly the August 6 circular, adequately address the grievances regarding moratorium and interest.
Live updates of the hearing today feature on this page.
13 Relief in loan repayment etc.
—The National Authority may, in cases of disasters of severe magnitude, recommend relief in repayment of loans or for grant of fresh loans to the persons affected by disaster on such concessional terms as may be appropriate.