SC asks Centre and RBI to respond to power producers loan restructuring plea
The Supreme Court on Thursday asked the finance ministry and the RBI to respond to the plea of the power producers to restructure Rs 1.2 lakh crore of their loans in the wake of the pandemic even as the Centre said the issue of loan moratorium is a fiscal policy matter and the government has taken various proactive steps keeping in mind different sectors.
The Centre also assured the top court that it would be the responsibility of banks to credit compound interest waiver for loans up to Rs 2 crore.
A three-judge bench of Justices Ashok Bhushan, R. Subhash Reddy and M.R. Shah posted the matter for further hearing to enable the power producers place their suggestions and representations within three days to the RBI and finance ministry on the restructuring of loans for the authorities concerned to respond accordingly.
