Decision likely in 2-3 days over charging interest by banks on deferred instalments: Centre informs Supreme Court

The Centre informed the Supreme Court today that a decision is likely to be taken in two to three days over the charging of interest by banks on instalments which were deferred during the moratorium period in view of COVID-19 pandemic. The apex court asked the Centre to bring the decision on record and circulate the affidavit to the parties in a batch of pleas challenging interest on deferred instalments. The Centre informed the top court that the matter has received very serious consideration and the decision making process is at advanced stage. A bench headed by Justice Ashok Bhushan said that it would hear the batch of pleas filed by various industries, trade associations and individuals on October 5.

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