Some of the lenders had sought the tribunal’s approval to start proceedings under IBC for recovering dues from the 58 IL&FS entities

The monstrous terrorist attack at Crocus City Hall in Russia triggered discussions about the need to reinstate death penalty in the country. It is the legal side of the issue that is being discussed, since the moratorium was established by the Constitutional Court. Russian officials believe that the moratorium on the death penalty that was introduced in Russia in 1996 in connection with the entry into the Council of Europe should be suspended. State Duma speaker Vyacheslav Volodin believes that there is no need for any referendum here — it would only be enough for the Constitutional Court to lift it. Lawyers believe executions will return to Russia Experts maintain that according to the Constitutional Court's clarification from 2009, the binding nature of this or that political decision shall remain unchanged. However, the head of the State Duma Committee on Legislation, Pavel Krasheninnikov, said that there are grounds for lifting the moratorium.

Housing activists erect a sign in front of Massachusetts Gov. Charlie Baker's house in Swampscott, Mass., on Oct. 14, 2020. The Centers for Disease Control and Prevention has extended a moratorium on evictions until the end of July.; Credit: Michael Dwyer/AP

The Centers for Disease Control and Prevention has extended a moratorium on evictions until the end of July. The ban had been set to expire next week, raising concerns that there could be a flood of evictions with some seven million tenants currently behind on their rent.

The Biden administration says the extension is for "one final month" and will allow time for it to take other steps to stabilize housing for those facing eviction and foreclosure. The White House says it is encouraging state and local courts to adopt anti-eviction diversion programs to help delinquent tenants stay housed and avoid legal action.

The federal government will also try to speed up distribution of tens of billions of dollars in emergency rental assistance that's available but has yet to be spent. In addition, a moratorium on foreclosures involving federally backed mortgages has been extended for "a final month," until July 31.

In announcing the extension of the eviction moratorium, the CDC said that the COVID-19 "pandemic has presented a historic threat to the nation's public health. Keeping people in their homes and out of crowded or congregate settings — like homeless shelters — by preventing evictions is a key step in helping to stop the spread of COVID-19."

The CDC first issued the moratorium last September. It was extended once already in March, until June 30.

But landlords have been pushing back, arguing that they've taken a huge financial hit over the past year, losing billions of dollars a month in rent. Several business groups have sued the CDC and won, though court decisions to lift the moratorium have been stayed pending appeal.

The Alabama Association of Realtors, which brought one of the cases, argued that the CDC exceeded its authority in issuing the ban. The group is seeking relief from the U.S. Supreme Court, but the justices have yet to respond.

In its petition, the Realtors association called the CDC's "continued insistence that public-health concerns necessitate that landlords continue to provide free housing for tenants who have received vaccines (or passed up the chance to get them)...sheer doublespeak."

Housing advocates have argued that the moratorium is still very much needed. They note that $46 billion in emergency rental assistance approved by Congress has been slow getting into the hands of those it was intended to help. The money is supposed to cover rent that tenants currently owe.

The National Low Income Housing Coalition reports that in some states, less than five percent of the funds have been distributed so far. The group pushed the administration to extend the ban to give states and localities more time to get the money out.

Despite the moratorium, thousands of renters have still faced the threat of eviction because of loopholes in the law. Many are the lowest income tenants and disproportionately people of color. A new study by the Eviction Lab at Princeton University has found that communities with the lowest vaccination rates tend to have the highest eviction filings, raising additional health concerns.

"Allowing the moratorium to expire before vaccination rates increase in marginalized communities could lead to increased spread of, and deaths from, COVID-19," a group of more than 40 House lawmakers wrote in a letter this week to President Biden and CDC Director Rochelle Walensky, urging them to extend the moratorium.

This content is from Southern California Public Radio. View the original story at SCPR.org.

The U.S. Supreme Court; Credit: Jose Luis Magana/AP

The U.S. Supreme Court on Tuesday refused to lift a ban on evictions for tenants who have failed to pay all or some rent during the coronavirus pandemic.

By a 5-to-4 vote, the court left in place the nationwide moratorium on evictions put in place by the Centers for Disease Control and Prevention, and which was challenged by the Alabama Association of Realtors.

Justice Brett Kavanaugh, who cast the fifth and deciding vote, wrote in a concurring opinion that he voted not to end the eviction program only because it is set to expire on July 31, "and because those few weeks will allow for additional and more orderly distribution" of the funds that Congress appropriated to provide rental assistance to those in need because of the pandemic. He added, however, that in his view Congress would have to pass new and clearer legislation to extend the moratorium past July 31.

The Biden administration has said it does not plan to extend the moratorium any further.

Also voting to leave the program intact until July 31 were Chief Justice John Roberts and Justices Stephen Breyer, Sonia Sotomayor and Elena Kagan.

Dissenting were Justices Clarence Thomas, Samuel Alito, Neil Gorsuch and Amy Coney Barrett. They would have blocked the moratorium from continuing for another month.

The decision comes at a time when roughly 7 million American households say they are still behind on their rent. Many suffered job loss during the pandemic. And delays have stopped more than $46 billion in congressionally approved rental assistance from reaching many people facing eviction who need it.

Housing groups have been warning that pulling the CDC eviction protections away from people before that congressional aid can reach them would spark a wave of evictions that could otherwise be avoided.

Evictions often send families into a downward financial spiral. It can be very hard to find another place to live with an eviction on your record. People can end up living in their cars, motels when they can afford it or in homeless shelters. Research has found there's also a disparate impact on people of color.

During the pandemic, public health experts have warned — and research showed — that evictions result in more coronavirus cases because people end up living in more crowded situations, where they are more likely to catch or spread the disease.

At the outset of the pandemic, Congress adopted a limited, temporary moratorium on evictions. After Congress' moratorium lapsed last July, however, then-President Donald Trump asked the CDC to step in and issue a new eviction ban, which it did in September. In March, President Biden extended that ban, which was to expire at the end of June. Then on June 24, the Biden administration notified the Supreme Court that it had extended the moratorium until July 31. It also said that barring a rise in coronavirus cases, the "CDC does not plan to extend the Order further."

Landlords have long argued that the CDC order was an overreach and that the agency doesn't have the power to, in effect, take control over their own properties away from them.

A group of the nation's landlords challenged the eviction ban and on May 5, a federal judge in Washington, D.C., ruled that the CDC has exceeded its authority. The judge, however, blocked her own decision from going into effect to give the government time to appeal. On June 2, the U.S. Court of Appeals for the District of Columbia upheld the stay, prompting the landlords to go to the Supreme Court.

Keeping the status quo in place "will prolong the severe financial burdens borne by landlords under the moratorium for the past nine months," the property owners said.

This content is from Southern California Public Radio. View the original story at SCPR.org.

A commentary published in Nature calls for a moratorium on clinical uses of heritable human genome editing and the establishment of an international governance framework.

The ongoing lockdown is seen to take a toll on the finances of the state-run discoms which are finding it difficult to continue meter reading exercises and collect payments from consumers. To make matters worse for discoms, their revenues are seen to decrease on account of lower usage by high paying consumers such as the railways, industrial and commercial users.

Last month, NRDC engaged a nationally recognized opinion research firm to conduct polling in New York State to evaluate public attitudes about fracking and clean energy. Importantly, this is the first statewide poll in at least two years — and perhaps ever — to directly ask residents their views of the now six-year-old de facto moratorium on fracking.

కరోనా మహమ్మారి, లాక్ డౌన్ నేపథ్యంలో ఆర్బీఐ ఈఎంఐ మారటోరియంను మరో మూడు నెలలు పొడిగించే అవకాశాలు కనిపిస్తున్నాయి. లాక్ డౌన్‌ను మూడోసారి మే 17వ తేదీ వరకు పొడిగించారు. మరోవైపు గ్రీన్, ఆరెంజ్ జోన్‌లలో ఆంక్షలు సడలిస్తూ ఆర్థిక కార్యకలాపాలు మెల్లిగా ప్రారంభమవుతున్నాయి. ఈ పరిస్థితుల్లో మారటోరియంను ఎవరు, ఏ మేరకు ఉపయోగించుకోవచ్చో చూద్దాం. SBI

A commentary published in Nature calls for a moratorium on clinical uses of heritable human genome editing and the establishment of an international governance framework.

The Kerala government on Monday decided to waive off rent for three months for all the IT/ITeS companies who have taken up to 10,000 square ft of space for operating in government-owned buildings.

To pay this additional interest, you may get an option to either increase your loan tenure without increasing your EMI amount or increase your EMI amount without increasing your loan tenure or make a one-time payment of the interest in June month.

Here are the charges, terms and conditions of availing the three-month equated monthly instalment (EMI) moratorium from Tata capital financial services. These are details as mentioned on Tata Capital's website for financial services.

If you are an IDBI Bank customer, here are the details of the bank's EMI moratorium facility. These details are as per the bank's website.

If you have converted your debit card payments to EMIs to buy a phone, a consumer durable or converted your e-commerce purchases to EMIs, you can avail of the three-month moratorium. Here is a look at how this will work.

In respect of term loans, insurers are permitted to grant a moratorium of three months towards payment of instalments falling due between 1st March 2020 and 31st May 2020.

The 3-month EMI moratorium offered by the Reserve Bank of India (RBI) includes all term loans like home loans, personal loans, credit card dues etc.

Normally, one can defer payment by paying 'minimum due amount' and roll over the balance outstanding amount to the next month. In this process, the unpaid amount is carried forward to the next billing cycle and 2-4 percent interest is levied on it.

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People have a lot of misconceptions about what has been promised. Keep these things in mind when you make financial decisions basis the announcements in the relief package.

ICICI Bank, along with issuing details on availing the moratorium on loans and credit card dues, also issued a set of FAQs on moratorium for equated monthly instalments (EMIs) taken on debit cards.

If you have a credit card from Kotak Mahindra Bank, here are some of the details of its three-month moratorium facility.

Banks have been alerting their customers of cyber frauds that can happen while availing EMI moratorium.

The non-state lender on its part is not reporting such customers to these institutions.

All malls have been shut since the lockdown began, and retailers in those malls are not in a position to pay rents because their outlets are shut. This in turn makes it difficult for the malls to pay the banks. About 85% of a mall’s revenue is dependent on rentals.

It can be noted that shopping centres and malls, which tend to attract a lot of crowds, have been shut since mid-March, much before the lockdown was announced and if the social distancing strategies continue post lockdown as well, such facilities are unlikely to open.

The city council, however, rejected a proposal to exempt landlords with four or fewer housing units.

Gov. Jay Inslee’s updated statewide eviction moratorium, announced Thursday, is arguably the most far-reaching local action yet to protect renters. The proclamation protects tenants from eviction until June 4. And it goes further, barring landlords from collecting late fees, raising rents or asking tenants in housing closed due to the coronavirus pandemic — including student housing — […]

The city council, however, rejected a proposal to exempt landlords with four or fewer housing units.

Pilots union wants end to 'knee-jerk decisions'

The governor did not go as far as to cancel rent outright, which progressives have increasingly called on him to do as the virus continues to curtail people’s ability to work and make ends meet.

The governor's announcement made it sound like renters had true protections, meaning many tenants could unwittingly end up setting themselves up for eviction.

The governor did not go as far as to cancel rent outright, which progressives have increasingly called on him to do as the virus continues to curtail people’s ability to work and make ends meet.

Moratorium under the Insolvency And Bankruptcy Code

Borrowers who opt for the moratorium on repayments will have to pay an additional interest charged on simple interest basis. Thus, those who have the capacity to repay should continue to make the payments regularly

The moratorium means in case of cash crunch in these extraordinary times, you may not pay the EMIs but the bank/FI will not classify your loan as a non-performing asset (NPA).

If you have a high credit score or work for an organisation that has a tie-up with a bank for subsidised interest rates, you can get a lower interest rate.

Closing a home loan account involves outstanding loan repayment, signing some forms, request for return of original documents, collecting no-dues certificate as well as the final interest payment certificate.

Availing of the moratorium will only add to your interest burden eventually. If you have the cash, paying EMIs and credit card bills on time will be beneficial.

However, the Bench refused to interfere in the matter after the petitioners informed the judges that they were not personally affected and had filed the PILs in public interest.

With the countrywide lockdown set to continue for two more weeks, banks have urged the Reserve Bank of India (RBI) to extend the three-month moratorium on loans by another three months beyond May 31.

In 2017-18, the RBI permitted several PSBs under the prompt corrective action (PCA) framework to buy back AT-1 securities and lower the risk of a trigger event occurring under Basel-III rules.

Private banks are also understood to be entertaining requests for a moratorium as some of them have exposure to microfinance borrowers themselves and have a good sense of the market.

Notably, following RBI's announcement on allowing a moratorium on term loans for March 1 to May 31, most of the MFIs have extended a moratorium to their borrowers till May 31.

The new provisioning requirement has to be made for the March and June 2020 quarters and this will impact their profitability in 2019-20 and 2020-21.

RBI said that the farmers do not have to pay penal interest and at the same time they will continue getting the benefits of the interest subvention scheme. 

The loan moratorium, as suggested by the Reserve Bank of India (RBI) last month and subsequently implemented by various lenders across the country, might be able to provide some temporary relief for now but could also play a hand in changing the credit landscape of the banking sector.

It said sectors with higher leverage, such as power, telecom, roads, textiles and fertilisers, will be the major beneficiaries and account for nearly 47 per cent of the total breather available.