NEW DELHI: The Supreme Court on Thursday granted time to Reserve Bank of India and the finance ministry to file a joint response on a plea seeking interest waiver during the moratorium period.
The RBI had filed a counter affidavit on Wednesday saying it does not consider prudent to go for a forced waiver of interest as it would risk the financial viability of banks and put interests of depositors in jeopardy.
The RBI had on 22 May extended moratorium on term loans till 31 August amid the nationwide lockdown due to covid-19. In March, the central bank had allowed a three-month moratorium on payment of all term loans due between 1 March and 31 May.