India: Corona has ordered that the people be impoverished by the impact and that the banks should not charge interest for three months. Notice
India: Corona has ordered that the people be impoverished by the impact and that the banks should not charge interest for three months. Notice has been sent to the government to submit the report.
The Reserve Bank has said that due to the peoples' curfew, the repayment period in March would be extended to May.
The Reserve Bank said the curfew in the country had been extended till March 31, extending the deadline for a further six months.
This is the case in the Supreme Court
Even with six months in debt, people are more vulnerable to the extra interest charged on loans. Gajendran from Agra sued in the court dismissing it.
The case was heard in the Supreme Court. The RBI then filed its report. The report stated that banks often rely on credit interest payments and that if this were dismissed, the banks would suffer huge losses.
It is difficult to bring Mallya to India and there are plenty of legal problems. Officers informedSupreme Court Recommendation on Loan Interest
The judges were given six months to pay the debt. It then urged the submission of the statement, saying that it was not a method of collecting interest.
The respondent was deferred until the 12th, although it was not effective for the public to pay interest for six months.
All sides insist on this, and as the case goes to the Supreme Court, everyone's point of view is turned to the case.
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