.
Supreme Court tells central bank to meeting with Finance Ministry to decide whether deferment of loan interest will cause accrual of more interest once the freeze is raised after August31
The Supreme Court on Friday asked the Ministry of Finance and the Reserve Bank of India (RBI) to hold a comprehensive joint conference in the next three days to clear the air on whether the deferment of loan interest in place to help borrowers through their financial crisis throughout the national lockdown will lead to accrual of additional interest once the freeze is lifted after August31 Whether there can be a system worked out … Our concern in these procedures is only whether the interest that has actually been deferred will be added to charges payable later and whether there will be interest on the interest,” Justice Ka