SC on Loan Moratorium LIVE: A bench led by Justice Ashok Bhushan is hearing pleas seeking waiver of accruing interest during the six-month loan moratorium period SC on Loan Moratorium LIVE: The Supreme Court is set to resume it hearing on a batch of petitions seeking interest waiver during the loan moratorium period on October 13 (today). The hearing will begin at 12 noon, as per CNBC-TV18. A bench led by Justice Ashok Bhushan and comprising Justices R Subhash Reddy and MR Shah on October 5 heard pleas seeking waiver of accruing interest during the six-month loan moratorium period. The apex court granted Centre and the Reserve Bank of India (RBI) time to file additional affidavits which are likely be addressed today. The SC had on September 3 instructed banks not to declare accounts as non-performing assets (NPAs) until further orders after. The RBI had in March announced a moratorium on repayment of term deposits for three months, which was later extended till August 31. The move was intended to provide borrowers relief during the COVID-19 pandemic and expected to give them more time to clear payments of EMIs amid the economic fallout of the lockdown, without being classified as NPAs. The SC had on September 3 instructed banks not to declare accounts as non-performing assets (NPAs) until further orders after the Centre on October 2 told the apex court that it would waive compound interest on the repayment of loans of up to Rs 2 crore, a move that would provide relief to individual and MSME borrowers. The SC has previously said there is "no merit in charging interest on interest". The RBI had on June 4 said lenders will lose Rs 2 lakh crore if interest is waived during the moratorium period. In its annual report, the central bank also said the moratorium on loan repayments could have an impact on the financial health of banks.