The Supreme Court on Tuesday refused to interfere with the debt ban policy. The court said it could not provide any instructions to the government about the policy, but declined to extend the debt ban for more than six months.
In the Lone Moratorium case, the Supreme Court said the government had the right to make economic decisions. Because the epidemic is a huge economic loss for the government. The court said the period of prohibition would not be extended after August 31.
Interest Controversy on Interest
During March-August 2020, many people took advantage of the debt bans, but then they complained that banks were charging more than the outstanding amount. The case reached the Supreme Court from here. The government said in its reply that the court had questioned the central government as to why the additional interest was being charged after compensation for non-payment of EMI. Does not apply.
