Supreme Court extends loan repayment moratorium till September 28

NEW DELHI: The Supreme Court on Thursday extended loan repayment moratorium till September 28 and directed banks not to declare any loan as NPA (non-performing asset) because of non-payment of instalments during the period.
The previous loan moratorium deadline had ended on August 31.
The top court asked the government to consider the plea for not charging interest on interest on loans during moratorium and not downgrading credit rating or asset classification of borrowers.
It further told the government to consult with the Reserve Bank of India (RBI), other lenders and come out with a concrete decision on all issues raised.

[Source – Times Of India]


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