Not appropriate to go for forced waiver of interest risking financial viability of banks: RBI tells Supreme Court on moratorium issue – Bar & Bench – Indian Legal News

The counter highlights that the RBI, in order to help with the difficulties that borrowers may face in repaying accumulated interest, also announced on May 23 that the “lending institutions may, at their discretion, convert the accumulated interest for the deferment period up to August 31, 2020, into a funded interest term loan (FITL) which shall be repayable not later than March 31, 2021.”