Loan moratorium case LIVE: SC rules out interest on interest, penalty
Supreme Court holds that a complete waiver of interest during the loan moratorium cannot be granted. Stay tuned for Latest LIVE news
BS Web Team |
Last Updated at March 24, 2021 02:41 IST
The Supreme Court on Tuesday rejected the pleas from various trade associations and corporate bodies to extend the six-month loan moratorium period offered by the Reserve Bank of India (RBI), adding that a complete waiver of interest during the moratorium could not be granted, either.
The SC said no direction could be issued to the govt or the RBI to announce any particular financial package or relief, and held that it could not issue directions to provide relief to particular sectors over and above others.
Virulent opposition to a bill introduced in the Bihar assembly by the Nitish Kumar government, with a view to giving more teeth to the police force, on Tuesday led to unprecedented turmoil in the House where police was called in to physically evict legislators who had laid siege to the Speakers chamber.
On the international front, the UN Human Rights Council in Geneva on Tuesday adopted a resolution against Sri Lanka's rights record, in a setback to Colombo, which made determined efforts to garner international support ahead of the voting. The resolution titled Promotion of Reconciliation Accountability and Human Rights in Sri Lanka' was adopted by the UNHRC after 22 members out of 47 voted in favour of it.
Stay tuned for the latest news of the day.
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