Contempt Plea In Supreme Court Against RBI Over Banks Allegedly Charging Interest-on-Interest For COVID Moratorium Period

A contempt plea has been filed against the Reserve Bank of India (RBI) for allegedly allowing banks to charge interest on interest during the COVID-19 moratorium period. The plea argues that this practice violates Supreme Court orders intended to provide relief to borrowers during the pandemic. The case highlights concerns over compliance with judicial directives and the financial impact on borrowers affected by the pandemic.