RBI Moratorium: Responsibility on banks to credit compound interest waiver: Centre to SC [LIVE UPDATES]

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.

Earlier, the Supreme Court had granted the Central government and the Reserve Bank of India (RBI) time to file affidavits detailing the steps to be taken for the enforcement of the recommendations made on the waiver of compound interest for small borrowers.

The Court additionally asked the Centre and the RBI to reveal the steps that will be taken to address concerns pertaining to sectoral relief raised by power producers and real estate associations

Live updates of the hearing today feature on this page.