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The pleas in the apex court had raised issues pertaining to validity of RBI's March 27 circular which allowed lending institutions to grant moratorium.
Cut in the home loan rates of banks should have spurred more transactions in the realty sector in the state but the expected rush for home loans has not happened.
The business of banks and the non-banking finance companies in the state soared, especially after the first phase of the lockdown.
Across this nation of 1.3 billion people, companies say they are struggling to keep up with their loans as the lockdown has choked business and consumer spending.
Education loans would perhaps be the first loan most of us take. That explains the large amount of doubts about those loans in our minds.
The top court was hearing a batch of pleas which have raised the issue of interest being charged on instalments which were deferred during the moratorium period due to the COVID-19 pandemic.
The meeting was convened as per the practice of holding discussions with the MPs ahead of Parliament sessions on issues that need to be raised.
The Ministry of Finance has been engaging with the RBI to ensure that the lenders are assisted by the central bank in the resolution process.
The apex court passed the order while noting the submissions of senior advocate Harish Salve, who appeared for banks' association and said that no account shall become NPA at least for a period of two months.
The court will hear on Wednesday the pleas which have raised the issue of interest being charged on instalments which have been deferred under the central bank's scheme during the moratorium period amid the COVID-19 lockdown.