The Supreme Court on Monday allowed the government one more week to come up with a plan on loan moratorium to ease the financial burden on borrowers during the coronavirus crisis. The top court, which had asked the government to submit its plan on 28 September, deferred the hearing till 5 October after the government sought more time. The government, however, said discussions are at an “advanced stage” and its plan will be ready in 2-3 days. The three judge Supreme Court bench was hearing a batch of petitions seeking a waiver of interest on deferred EMIs during the moratorium period, which was introduced by the Reserve Bank of India (RBI) to ease the burden on existing borrowers in wake of coronavirus pandemic-related restrictions.
