The Supreme Court on Friday ruled out a public interest litigation (PIL) demanding fresh moratorium on loan repayments in view of the second wave of Covid-19. The Apex court declined to pass an order on fresh loan moratorium and said the issues raised in the petition are in the realm of policy decisions.
A bench consisting of Justices Ashok Bhushan and M.R. Shah said: "We accept that we aren't experts in financial matters. We can't anticipate financial implications. These issues are in the realm of policy decisions." The bench emphasized that it is for the government to assess the situation and take appropriate decisions.
The bench was hearing a petition filed by advocate Vishal Tiwari seeking some relief to borrowers during the second wave of Covid-19 pandemic and lockdown. The petitioner submitted that the second wave has made at least 1 crore people jobless.
The bench pointed out that the RBI has already announced certain financial packages as per its circular. The petitioner replied it was not sufficient to address the problems of the middle-class families. The bench replied: "We cannot decide financial matters."