Centre is identifying sectors to vary benefits as per covid hit, solicitor general tells SC
Govt, RBI, banks should hold a meeting to come up with a solution, says Tushar Mehta
Centre is identifying sectors to vary benefits as per covid hit, solicitor general tells SC
Govt, RBI, banks should hold a meeting to come up with a solution, says Tushar Mehta
The moratorium for repayment of loans can be extended by up to two years, according to a 6 August circular by the Reserve Bank of India, solicitor general Tushar Mehta told the Supreme Court on Tuesday.
“We are in the process of identifying the distressed sectors to vary benefits according to the impact of the hit they have taken,” Mehta said, representing the Centre.
The central government also apprised the bench that it has filed an affidavit stating that the National Disaster Management Authority has taken cognizance of the issues and sent its ‘Views and Recommendations’ to RBI.
The affidavit also states that “ex post facto change in the terms and conditions of the offer of moratorium favouring those who availed of it over those who made the extra effort of repaying as per schedule would be grossly inequitable and patently unfair for those who did not avail of the benefits of moratorium initially or gave it up subsequently.”
