New Delhi: The Supreme Court will start hearing from 1 September on a new petition seeking to extend the Reserve Bank of India's (RBI) loan moratorium scheme by December this year in the crisis of Corona epidemic. In fact, the petitioner has argued in the apex court that in view of the difficult economic conditions in which the moratorium facility was given in the Corona period is not over yet, in such a situation, the facility of the morotorium should be extended till December this year. 

The Supreme Court has approved to hear this petition. It is noteworthy that after the lockdown in view of the coronavirus epidemic, the RBI had announced a loan moratorium for three months, later its duration was extended for another 3 months till 31 August. Let us tell you that while hearing the case on August 26, the apex court had given a strong rebuke to the government and said that it should not take cover of RBI in this matter and clarify its stand within a week.

On the other hand, the chairman of the top banks after meeting RBI Governor Shaktikanta Das has requested that this facility of loan moratorium should not be extended further. Because a lot of people are taking unfair advantage of it. He further said that if the exemption period is extended beyond six months, it may affect the loan behavior of the borrowers and increase the risk of default after the commencement of the repayment period.

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