<p>The Supreme Court on Wednesday told the Centre that it has to take consideration of sufferings of people instead of being interested in business as it sought clarity on interest being charged during moratorium on loan announced due to lockdown actuated by the Covid-19 pandemic.</p>.<p>A bench presided over by Justice Ashok Bhushan pulled up the Union government for "hiding behind the RBI" and asked it to take decisions, independent of RBI, on charging interest on loans and interest on interest on six-month loan moratorium.</p>.<p>The court gave the Centre time till August 31 to file an affidavit, by taking a stance in the matter. </p>.<p>It asked Solicitor General Tushar Mehta to take a clear stand under the Disaster Management Act whether it can provide relief to the people on additional interest being charged on existing interest during the loan moratorium period ending August 31.</p>.<p>Mehta said that there may not be common solutions to all the problems.</p>.<p>Senior advocate Kapil Sibal, appearing for a petitioner, sought extension of loan moratorium period from August 31.</p>.<p>Senior advocate Rajeev Dutta, for the petitioner submitted that Union government has neither made clear their stand nor filed any affidavit.</p>.<p>The court put the matter for consideration on September 1.</p>.<p>On the PIL filed by Gajendra Sharma, the court had earlier said the central government can't raise its hands in helplessness, It can't now say it is between banks and customers. If the Centre announced moratorium, it must ensure the benefits are given to customers purposefully, it said.</p>.<p>The RBI issued circulars on March 27, April 17 and May 23 for an initial three-month moratorium period on loan repayment which was subsequently stood extended till August 31. The measure was announced as a relief to the people after the nationwide lockdown was imposed since March 25 to contain Covid-19 pandemic.</p>.<p>In June, the court asked the officers of Ministry of Finance and the RBI to hold a meeting to resolve the matter, saying loan repayment moratorium should not lead to higher interest rate being charged. </p>
<p>The Supreme Court on Wednesday told the Centre that it has to take consideration of sufferings of people instead of being interested in business as it sought clarity on interest being charged during moratorium on loan announced due to lockdown actuated by the Covid-19 pandemic.</p>.<p>A bench presided over by Justice Ashok Bhushan pulled up the Union government for "hiding behind the RBI" and asked it to take decisions, independent of RBI, on charging interest on loans and interest on interest on six-month loan moratorium.</p>.<p>The court gave the Centre time till August 31 to file an affidavit, by taking a stance in the matter. </p>.<p>It asked Solicitor General Tushar Mehta to take a clear stand under the Disaster Management Act whether it can provide relief to the people on additional interest being charged on existing interest during the loan moratorium period ending August 31.</p>.<p>Mehta said that there may not be common solutions to all the problems.</p>.<p>Senior advocate Kapil Sibal, appearing for a petitioner, sought extension of loan moratorium period from August 31.</p>.<p>Senior advocate Rajeev Dutta, for the petitioner submitted that Union government has neither made clear their stand nor filed any affidavit.</p>.<p>The court put the matter for consideration on September 1.</p>.<p>On the PIL filed by Gajendra Sharma, the court had earlier said the central government can't raise its hands in helplessness, It can't now say it is between banks and customers. If the Centre announced moratorium, it must ensure the benefits are given to customers purposefully, it said.</p>.<p>The RBI issued circulars on March 27, April 17 and May 23 for an initial three-month moratorium period on loan repayment which was subsequently stood extended till August 31. The measure was announced as a relief to the people after the nationwide lockdown was imposed since March 25 to contain Covid-19 pandemic.</p>.<p>In June, the court asked the officers of Ministry of Finance and the RBI to hold a meeting to resolve the matter, saying loan repayment moratorium should not lead to higher interest rate being charged. </p>
