loan moratorium scheme announced by RBI in March which granted three-month loan moratorium from paying EMIs and other loans amidst the nationwide lockdown due to covid-19.The central bank 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.The apex court three judge bench comprising Justices Ashok Bhushan, MR Shah and V Ramasubramanium also ordered for the case to be tagged with the pleas seeking similar clarification.