New Delhi: People facing financial crisis in the second wave of Corona and hoping for relief in EMI got a setback on Friday when the Supreme Court dismissed the petition related to the loan moratorium scheme and interest waiver.
A bench headed by Justice Ashok Bhushan dismissed the petition saying that it is a policy matter and the court cannot interfere in the policies of the government. (RBI) should go.
The petition had sought fresh moratorium, time extension under the debt restructuring scheme and a temporary moratorium on non-performing assets (NPAs) declarations by banks. The petition sought immediate relief from the court saying that adequate measures have not been taken by the Center and RBI for the common man who is currently facing extreme financial crisis.