The moratorium announced by the RBI on Loan repayment technically ended on August 31 but will it extend further or not there is a lot of confusion and with every passing day, the confusion gets bigger and bigger.
There is a plea pending in the Supreme Court sought that no interest be charged during the moratorium as citizens were facing extreme hardship.In the subsequent hearings the Supreme Court gave two important orders:
1. During the last hearing, the Supreme Court had ordered that accounts that have not been declared non-performing assets as on August 31 should not be declared so until it finishes hearing the plea
2. Second important order came out today whereby the Supreme Court extended Loan Moratorium till September 28. But this essentially means that the top court has given two more weeks to the Centre to come up with a concrete plan regarding loan moratorium.
In this video, Arti Ghargi discusses the issues faced by Banking sector in COVID with banking expert Mr Vishwas Utagi.
#LoanMoratorium #RBI #FinanceMinistry
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