Lekha G –
A plea has been filed in the Supreme Court seeking directions to permit banks to offer moratorium on payments to borrowers for the period of June to August.
The plea was filed on account of various requests from people belonging to middle class category facing difficulty to pay EMIs of loans availed from banks due to the pandemic.
The petitioner argued that though the Covid situation was not as bad last year as the second wave, RBI had granted relief of moratorium for 3 months which was thereafter extended to 6 months and also had granted facility of restructuring loans.
Media reports were further cited to state that the chiefs of private sector banks have met with RBI asking for limited moratorium of payments between April and June and wider window to restructure dues.
The plea was filed by NGO Trust Distress Management Collective seeking the Centre and RBI to issue notification to all banks to abstain from classifying any loan account as NPA for non-payment of EMI at least from April to August.
