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ICICI Securities Report
The developments in the Supreme Court’s ‘interest on interest waiver’ case are leaning favourably towards financiers.
Firstly, the scope of discussion in the SC on October 14 was restricted merely to the implementation of suggested relief (as per earlier affidavit) to small borrowers (up to Rs 20 million) through fiscal support.
Sounds positive for the sector as there were no discussions on expanding the scope of relief (a huge overhang) to other categories or to interest waiver.
Also, with government bearing the burden, there will be no liability as such for financiers.
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