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SC disposes of writ petition challenging interest on loan during moratorium in wake of Covid-19

November 27, 2020[2020] 121 344 (SC)

FEMA, BANKING AND INSURANCE : Where petitioner filed petition under article 32 of Constitution for declaring notification dated 27-3-2020 issue by RBI as ultra vires to extent it charges interest on loan amount during moratorium period, in view of fact that Central Government has already taken decision for granting various reliefs for COVID-19 pandemic for benefit of waiver of interest upto Rs. 2 crores in eight categories which covered petitioner's case also, writ petition was disposed of with direction to respondents to ensure implementation of said decision

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