Supreme Court on Loan Moratorium And Waiver of Interest: Live-Updates of Supreme Court

Banks fully empowered to customise relief to not so big and big borrowers (loans of up to 1500 crores and over 1500 crores respectively), SG says

Big borrowers have loan accounts of over 1500 crores. Relief for the not so big borrowers (less than 1500 crores) were granted relief including rescheduling of payments, conversion of interests (to loans) or granting of moratorium subject to a max of 2 years etc, says SG

Centre not done anything - i am answering to this argument now. Many sectors affected by Covid and RBI took decisions,

Said, we can restructure but not waive everything. RBI took a wise decision of “eligibility criteria” vis-a-vis Non-NPA accounts, says SG

If we give waiver of compound interest (to borrowers over 2crore) we will be suffering losses for over 5,000 crore (at rate of waiver of 1 crore) this is why we stopped the threshold for small borrowers (loans upto 2 crore), says SG

Waiving Interest will lead to substantial financial burdens, SG says

The losses granting the waiver can attract is over 6 lac crore, no economy can withstand this, at least Indian Economy cannot, SG says while elaborating on the steps taken to uplift the economy during Covid

Impossible to give exact figure for those who have not availed loans, Such class will be more than 50 per cent, SG says

Senior Adv VV Giri for RBI says there are figures to substantiate that 70 per cent not availed moratorium

Moratoriums can never mean waiver, this can have disastrous effects in economy, 50 per cent not availed it, SG says

Bench: You say 50 per cent not availed?

These are rough figures. Roughly 50 per cent not availed, not concrete figures, says SG

Circular of RBI clarified itself that repayment schedule of loans has also the residual tenor which was shifted for three months - this is only deferment, not waiver, says SG