Tribune News Service
New Delhi, November 19
Having waived compound interest on loans up to Rs 2 crore, the Centre on Thursday told the Supreme Court that no further judicial intervention was needed as sufficient relief has already been given to distressed borrowers.
During hearing on PILs seeking relief for borrowers adversely affected by the lockdown, Solicitor General Tushar Mehta told a Bench headed by Justice Ashok Bhushan that issues relating to loan moratorium was a fiscal policy matter and the government has taken several proactive steps for various sectors.
Highlighting the measures taken by the Finance Ministry and RBI, Mehta said it was not a case of “no action” and no further indulgence should be given.