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Interest waiver may disturb banks' asset-liability balance: Uday Kotak

Uday Kotak India city Mumbai covid-19 pandemic Government
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MUMBAI: Wading into the debate over interest waiver during moratorium, Uday Kotak, managing director and chief executive of Kotak Mahindra Bank, on Thursday said lenders are not in favour of the move as they must balance the interest of both borrowers and depositors.

This assumes significance as the Supreme Court on Thursday told the Reserve Bank of India (RBI), in the interest waiver case, that the economic aspect is not higher than health of the people. “Permitting a moratorium but offering no relief through interest is more detrimental," the apex court told the banking regulator.

The RBI had filed a counter affidavit on Wednesday saying it does not consider it prudent to go for a forced waiver of interest as such a move would risk the

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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