Interest during the moratorium period, Finance Minister Nirmala Sitharaman today called on bank officials

Union Finance Minister Nirmala Sitharaman will meet bank officials today. The Finance Minister will inquire into the position of the bank chiefs in this regard as the case regarding the moratorium continues in the Supreme Court. COVID will also evaluate the activities of the banking sector.

nirmala-sitharaman (1)
Nirmala-sitharaman (1)

At the same time, the Supreme Court will continue to hear petitions questioning the charging of interest and interest on bank loans during the moratorium period. The hearing will begin at 2 p.m.

The petitioners want the interest to be withdrawn in full or the interest rate to be reduced. The petitioners allege that the banks were trying to make a profit instead of helping the people during the lockdown and that the Reserve Bank of India was trying to act as an agent for the banks. The case is being heard by the Central Government today.

Nirmala Sitharaman.
Nirmala Sitharaman.

The central government had yesterday told the Supreme Court that the moratorium on bank loans could be extended to two years. But the central government had made it clear that it could not decide on it in two days.