SC: Interest On Interest Waiver Matter Deferred For October 14, 2020

The SC which was to hear interest on interest waiver case along with other related petitions has been deferred to October 14, 2020.

Earlier the matter was postponed to be discussed at 2 pm from the earlier scheduled time of 12 pm after all the matters have been discussed over.

SC: Interest On Interest Waiver Matter Deferred For October 14, 2020

After the SC asked the centre and RBI to submit more affidavits, both the parties did so over the weekend in the matter. The government iterates that it has granted relied on the interest on interest matter but did not accommodate all for the loan waiver. Also, the government said that any further apart from the already granted waiver of compound interest charged on loans of up to Rs. 2 crore for 6 months period shall be detrimental to the economy and banks may not take "inevitable financial constraints".

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