Supreme Court asks Centre to clarify stand on interest waiver during moratorium
New Delhi: The Supreme Court on Wednesday took note of the Centre's alleged inaction and asked it to clarify its stand within a week on the waiver of interest on interest for deferred payments of instalments for loans during the moratorium period announced due to the coronavirus lockdown.
A bench headed by Justice Ashok Bhushan said the Centre had not made its stand clear on the issue despite the fact that ample powers were available with it under the Disaster Management Act and was "hiding behind the RBI".
The apex court granted time to the government after Solicitor General Tushar Mehta sought a week's time to file a response.
"My Lordships may not say that. We are working in coordination with RBI," Mehta said.
The bench, also comprising Justices R Subhash Reddy and Justice M R Shah, asked the solicitor general to clarify stand on the Disaster Management Act and whether additional interest on existing interest could be accrued.
Mehta argued that there cannot be a common solution for all the problems.
Senior advocate Kapil Sibal, appearing for the petitioner, informed the bench that the loan moratorium's deadline would end on August 31 and sought its extension.
"I am only saying that till these pleas are decided, the extension should not end," Sibal said. The apex court has now posted the matter for hearing on September 1.
The top court had earlier said there was "no merit in charging interest on interest" for deferred loan payment installments during the moratorium period announced in wake of the COVID-19 pandemic.
The bench was hearing a plea filed by Agra resident Gajendra Sharma, who has sought a direction to declare the portion of the RBI's March 27 notification "as ultra vires to the extent it charges interest on the loan amount during the moratorium period, which create hardship to the petitioner being borrower and creates hindrance and obstruction in 'right to life' guaranteed by Article 21 of the Constitution of India".
Sharma has also sought a direction to the government and the Reserve Bank of India (RBI) to provide relief in repayment of loan by not charging interest during the moratorium period.
On June 4, the top court had sought the Finance Ministry's reply on the waiver of interest on loans during the moratorium period after the RBI said it would not be prudent to go for a forced waiver of interest risking financial viability of the banks.
The top court had said there were two aspects under consideration in this matter - no interest payment on loans during the moratorium period and no interest to be charged on interest.
It said these were challenging times and it was a serious issue as on one hand, moratorium was granted and on the other, interest was charged on loans
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Karnataka gets 200 additional medical seats in third round of NEET counselling
Bengaluru: In a significant development for medical aspirants, Karnataka has received 200 additional MBBS seats for the ongoing third round of NEET counselling, as approved by the Medical Counselling Committee (MCC).
The additional seats have been distributed across four private medical colleges, with each institution receiving 50 new seats. The colleges include Subbaiah Medical College in Shivamogga, BGS Global Institute of Medical Sciences in Bengaluru, Sridevi Medical College in Tumakuru, and AJ Institute of Medical Sciences in Mangaluru, as reported by Deccan Herald on Tuesday.
For the third round, 377 medical seats were already available and now 200 additional seats have been included.
The Karnataka Examinations Authority (KEA) has opened the portal for candidates to re-enter and revise their college preferences in light of the new seat availability. Option entry will remain open until 8:00 a.m. on October 15.
KEA Executive Director H. Prasanna urged candidates to carefully review the fee structures of the newly added colleges before making their selections. “Even candidates who have already been allotted and admitted to medical colleges in the first and second rounds can also participate in this round if they wish. Such candidates can enter their new options for these colleges from 11:00 a.m. on October 15 to 8:00 a.m. on October 16,” DH quoted Prasanna as saying.
Since these candidates have already paid the admission fees, they do not need to pay any caution deposit. However, those who have not yet been allotted a seat must pay the required caution deposit fee before participating.
Prasanna pointed out that if a candidate is allotted a seat in this round, admission to that seat will be compulsory.
Additionally, vacant or cancelled seats arising during the process will also be made available. “Therefore, even if some seats do not appear as available in the seat matrix, candidates are still advised to include those colleges while entering their options,” he added.
