New Delhi: SC heard a petition directing the direction of concession on interest during the moratorium period due to the corona epidemic. Solicitor General Tushar Mehta, appearing for the Center, while filing an affidavit in the court, has stated that the postponement of the loan may extend for two years. But this will be given to a few sectors.

Mehta has submitted to the court a list of sectors that can be given further relief. The apex court said that it would hear the issue on Wednesday and all parties would file their reply in the Moratorium issue through the Solicitor General tomorrow. During the hearing last week, the apex court reprimanded the government for clarifying its stand on the loan moratorium issue and filing an affidavit in the court at the earliest. During the hearing of a plea seeking loan waiver during the moratorium to repay the loan EMI, the court said, "The reason behind the problems facing the economy is lockdown."

In March, the banks took an important decision on the instructions of the Reserve Bank in the wake of the Corona epidemic. Under this, companies and individual people were given a six-month concession for payment of loan installments. Its period ended on 31 August. However, it will no longer be extended beyond 31 August.

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