New Delhi: The Supreme Court has given great relief to customers who have not been able to repay their loans due to the effects of the Karona epidemic. After hearing the moratorium case, the court today made it clear that customers who have not been able to repay the loan until August 31 will not be able to be included in the non-performing loan or NPA category until their next order is received. Those who have not been able to repay their debts before the outbreak have also been relieved.
The court ruled that an account that was not included in the NPA category by August 31 could not be declared NPA until further notice. A bench headed by Justice Ashok Bhushan gave the interim relief. The next hearing in the moratorium will be on October 10. The court asked the Supreme Court to clarify whether banks could provide this facility to customers. After the announcement of the lockdown for the corona epidemic, the first three months and the next three months were followed by a six-month moratorium on loans to alleviate the plight of borrowers. The deadline is August 31. ଅନେକ Many parties, from individuals to real estate companies, have been at the door of the Supreme Court, demanding a complete waiver of interest rates and an extension of the moratorium period for a few more months. However, both the Reserve Bank of India and the central government have said that interest waivers cannot be waived during the moratorium. In a statement, the government said that if the waiver was announced, it would be “unfair” to customers who paid their debts. The moratorium was optional. Only those who are having difficulty repaying the loan were encouraged to take advantage of this. The Reserve Bank of India (RBI) has issued a framework for restructuring the amount of debt under pressure. The government has said that those who are suffering can apply for a solution according to the framework.
