Income stream will not resume due to the continuation of nationwide lockdown, the sources said, adding that so many entities and individuals will be unable to service their debt in this circumstances at the end of the present moratorium period ending on May 31.

So, extension of moratorium by another three months would be a practical approach from the regulator, a senior public sector bank official said.
t will help both borrowers and banks in these difficult times, the official added.

The Supreme Court Tuesday refused to entertain senior Congress leader Jairam Ramesh’s plea seeking directions to the Centre and states to ensure universal coverage of food security during the Covid-19 pandemic and asked him to make a representation to the Union government.
Senior advocate Salman Khurshid, appearing for Ramesh, said the issue raised in the petition relates to food security and the petitioner himself was instrumental in the framing of the National Food Security Act of 2013.

U.S. President Donald Trump’s trade adviser Peter Navarro’s proposed order has met strong resistance from business leaders and current and former officials, who argued that acting to curb imports could prompt China to curb urgently needed shipments of N95 masks and other protective equipment. The initial proposal was revised slightly but is still going through an interagency review process, according to the officials.