The Supreme Court dismissed the petition for further extension of the loan moratorium scheme. Also asked the petitioner to approach the Central Government and Reserve Bank of India (RBI) for their demand.
Supreme Court dismissed the petition on loan moratorium
People are facing financial problems during the Corona period, like last time, this time also they were expecting loan waiver. But his hope was shattered by the decision of the Supreme Court. In fact, the Supreme Court dismissed the petition for further extension of the Loan Moratorium Scheme and waiving the interest. Also said, the government has more work, they have to vaccinate the people and solve the problem of migrant laborers. Court cannot interfere in this matter.
A bench of Justice Ashok Bhushan of the Supreme Court said that it cannot interfere in government policies. The court cannot judicially review the policies of the government unless they are arbitrary and malicious. These days the government is also facing a severe financial crisis due to Corona. The government has many more important work which is the priority of the country at this time. In such a situation, the petitioners should go to the Central Government and the Reserve Bank of India (RBI) for this demand.
It is known that the petitioner had said in the appeal that in view of the new wave of COVID, once again the loan moratorium scheme should be implemented. Economic activities have been affected due to the lockdown imposed so far in many states. People’s jobs have been snatched away. At the same time, due to the large number of people getting infected, a lot of money is being spent in their treatment. In such a situation, they are unable to pay the EMI. However, due to the dismissal of the petition of the Supreme Court, people’s hopes were dashed. Earlier on May 24, the Supreme Court had postponed the hearing of the matter till June 11.