Live
- Kajol’s style mantra of the day: Life is short, let my pallu be long
- IPL 2024: Sometimes it works, sometimes it doesn't work, says R Sai Kishore on being held back till 19th over
- Treating politician differently from ordinary criminal will violate Constitution: ED tells SC on CM Kejriwal's plea
- Adverse weather conditions may hit mango crops in UP: Experts
- Cong to snatch reservation from Dalits, says Union Minister Pralhad Joshi
- Congress tied hands of our soldiers, we gave them full freedom to retaliate: PM Modi
- Big B on being honoured with Mangeshkar Award: ‘Abhaar aur mera param saubhagya’
- Fashion Entrepreneur Fund opens up for pre registrations
- ICEA shares blueprint for India to become a global leader in chip value chain
- Meera Deosthale describes marriage as a ‘beautiful union yet huge responsibility’
Supreme Court: No compound or penal interest during loan moratorium period
Supreme Court
New Delhi : In a relief to borrowers, the Supreme Court Tuesday directed that no compound or penal interest be charged during the six-month loan...
New Delhi : In a relief to borrowers, the Supreme Court Tuesday directed that no compound or penal interest be charged during the six-month loan moratorium period announced last year amid the Covid-19 pandemic and the amount already charged shall be refunded, credited or adjusted.
The apex court refused to interfere with the Centre's and the Reserve Bank of India (RBI's) decision to not extend the loan moratorium beyond August 31 last year, saying it is a policy decision.
A bench headed by Justice Ashok Bhushan said that the top court cannot do judicial review of the Centre's financial policy decision unless it is mala fide and arbitrary.
The apex court said it cannot interfere with the government's decision to fix priorities for relief during the pandemic which has affected across the country and the government has been under severe financial constraints.
The bench said this in its verdict on a batch of pleas filed by various trade associations, including from real estate and power sectors, seeking extension of loan moratorium and other reliefs in view of the pandemic.
