Say much of the present troubles faced by small biz & traders are due to their inability to repay loans taken from banks, suggest interventions should continue for at least 6 months
Unlike last year, however, RBI expects banks’ stress level to be less harsh this year—helped by restructuring, write-offs, and regulatory forbearances including a loan moratorium.
According to sources in the ministry, bankers had approached the Department of Financial Services seeking a bailout, or at least a way to share the burden.
'In today's conditions, there is no need for a moratorium,' Das said during an interaction with journalists after the announcement of the new fiscal year's first monetary policy review.
The refund or the compound interest shall be adjusted to the next installment payable instead of refunding it to the borrower irrespective of the loan amount.
The SC also refused to extend the moratorium period beyond August 2020.
A bench headed by Justice Ashok Bhushan which had reserved its verdict on the batch of pleas on December 17, last year, will pronounce the judgement.