- The top court on Wednesday hits the Union government for “hiding behind the Reserve Bank of India” without making its stand clear on the loan moratorium scheme introduced during covid-19 pandemic lock down.
- The SC wanted to know whether the postponement of loan interest to support the financial crisis of borrowers during the national lock down would lead to accumulation of further interest once the freeze is lifted on 31st of August.
- The court advised the government to focus only on issues related to the business of banks and not looking at unfortunate financial situation of the people created by the lock down implemented by the government.
- “The problem was created by your lockdown…it appears the union of India is not taking an independent stance and is relying on the Reserve bank of India (RBI)…This is not the time to look after business only, consider providing relief,’’ a bench, led by Justice Ashok Bhushan, addressed by Solicitor General Tushar Mehta.
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