Saints and Sinners: The weekend’s talking points

first_imgQuins quashed: Jamie Codmore celebrates Clermont’s victoryChance missedHarlequins needed to beat Clermont Auvergne to keep their Pool Four hopes alive and they did everything to achieve that aim, only to fall on their faces at the last. They led from the 22nd minute to the 72nd but a try from Sitiveni Sivivatu and a penalty from Brock James allowed Clermont to sneak home 16-13.When Quins were 13-8 up with ten minutes to go, the usually reliable Nick Evans missed a straightforward 35-metre penalty. From there, Clermont attacked and created Sivivatu’s try. After James had put Clermont ahead, Quins turned down a kickable penalty to go for a potentially winning try, but a crooked throw from Dave Ward at the close-range lineout laid waste to that final chance. LATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALS TAGS: Glasgow WarriorsHarlequinsLeicester TigersLeinsterMunsterSaracensScarletsUlster LONDON, ENGLAND – JANUARY 11: Jamie Cudmore of Clermont celebrates their victory during the Heineken Cup Round 5 match between Harlequins and ASM Clermont Auvergne at Twickenham Stoop on January 11, 2014 in London, England. (Photo by Christopher Lee/Getty Images) center_img Munster monster: Paul O’Connell was on outstanding formTwo of the bestBig players step up on big occasions and Paul O’Connell and Ruan Pienaar both proved that point as they played major roles in wins for Munster and Ulster respectively. O’Connell ruled the roost at Kingsholm, bossing the lineout and giving a masterclass in the choke tackle as Munster chalked up their seventh away win on the bounce in the Heineken Cup.Pienaar was the Man of the Match in Ulster’s 27-16 win over Montpellier, which keeps their 100% record in Pool Five alive. He scored 17 points, chasing his own kick to grab a try, narrowly missing out on another when he was held up over the line, and kicking three conversions and two penalties.The SinnersPromise brokenSaracens’ sparkling form coming into the weekend of Heineken Cup rugby gave fans of English rugby cause to be optimistic that the fortress that is Toulouse’s Stade Ernest-Wallon might be breached at last. However, they were out-muscled by their French hosts, lost 21-11 and were barely able to produce any of the vibrant, attacking rugby which has characterised their Aviva Premiership campaign this season.No English club has won a Heineken Cup match on the Toulouse home ground and while Saracens still have a strong chance of reaching the quarter-finals as a pool runner-up, they will be gutted that they did not even secure a losing bonus point this weekend.No, no NikoGlasgow Warriors were leading 15-10 at Exeter Chiefs as the clocked ticked past full time. They were ready to celebrate a win on the road, and a victory which would give them the chance of qualifying for the Amlin Challenge Cup quarter-finals. Replacement scrum-half Niko Matawalu got his hands on the ball and just needed to boot it into touch to herald the final whistle. Instead, the Fijian put an up-and-under up the middle of the park and condemned his team to what head coach Gregor Townsend called “two minutes extra tackling practise” before they were able to put the ball dead. Flying finish: Matt Hoppers dives joyfully over for a try set up by the individual brilliance of Danny Careby Katie FieldThe SaintsSkills and thrillsWhy do we watch rugby? For many fans, it’s all about the moments of stunning skill, those out-of-your-seat moves which leave you shaking your head in wonder. There were a fair few of those in this weekend’s Heineken Cup action, led by Harlequin Danny Care’s brilliant backwards, mid-air flick which stopped the ball from going into touch and sent it safely into the hands of Matt Hopper, who raced in for a try against Clermont.Not to be outdone, George North scorched in for another fabulous solo try, swatting tacklers aside as he rampaged up the left wing to help Northampton to a 29-17 win at the Ospreys. His compatriot Kristian Phillips conjured up another special score in the Scarlets’ excellent 19-13 win at Racing Metro, leaving five defenders clutching the air in his wake. And Charlie Sharples, the Gloucester wing who was axed from England’s EPS last week, turned a half-chance into a try with a terrific, weaving run through the Munster defence to give the home fans something to cheer in a 20-7 defeat at Kingsholm.Gentleman, we take our hats off to you!Cool rulesThere will be a fight to the finish in the so-called pool of death, Heineken Cup Pool One, but Leinster put themselves in poll position to win it with a 29-22 away win at Castres. Some of the French players were in tears at the final whistle, having given up a 14-0 lead, but they were up against a Leinster side which is full of character and talent and which had already won at the Ospreys and Northampton in this season’s European competition.Jimmy Gopperth pulled the strings in the Leinster revival, scoring two tries, kicking 11 points and punishing Castres for every mistake, while Shane Jennings and Cian Healy both galvanised the pack from the bench. Leinster now need just one point from their clash with the Ospreys next Friday.Miles betterHe missed the whole of last season due to a neck injury, but Miles Benjamin is making up for lost time in a big way now and scored two tries in Leicester’s 34-19 win at Benetton Treviso. The wing moved from Worcester to the Tigers in 2012 but had to wait until October 2013 to play for the Leicester first team. Since then he’s scored four Heineken Cup tries and another in the Premiership, proving the best may be yet to come from the 25-year-old speedster.last_img read more

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International Animal Rescue launch online fundraising cyberpet

first_img International Animal Rescue’s Cybear is a cyberpet that can be downloaded to live on a PC and which is designed to raise funds and spread information about the charity’s work rescuing ‘dancing’ bears.Cybear is interactive! You can click his food bowl to feed him, click the roll at the bottom of the tree to visit the IAR website or click his mailbox to find out how to register for latest news and updates, as they happen!Interestingly the readme file which opens when Cybear is installed suggests “We recommend that you consider the option of making a small donation to the work of IAR”. Advertisement Howard Lake | 27 April 2004 | News  18 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis International Animal Rescue launch online fundraising cyberpet AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Clicking on the screensaver for further information takes you to the IAR site where you view a compelling, concise appeal on behalf of the bears, before being taken to a donation page. IAR uses Paypal to handle transactions, and promotes both one-off and regular gifts. Both include a Gift Aid drop-down box to enable the charity to reclaim tax paid on donations by UK tax-payers. About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.last_img read more

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2020 Dairy Margin Coverage Program Signup Deadline is Friday

first_img Facebook Twitter Facebook Twitter 2020 Dairy Margin Coverage Program Signup Deadline is Friday 2020 Dairy Margin Coverage Program Signup Deadline is FridayThis Friday, Dec. 13, is the deadline to sign up for the new Dairy Margin Coverage Program for 2020. 2019 registration, that ended in September, was disappointing to USDA officials as only a little over half of eligible dairy producers signed up.Steve Brown, Indiana Farm Service Agency Executive Director said, “The last dairy program didn’t fit the needs of several operations and they weren’t happy there…we’ve reached out, there are differences here. Our dairy associations have done a great job of contacting producers and explaining the benefits.”Ag Secretary Sonny Perdue had this to say back in October regarding the new program and the poor registration rate.“I don’t know whether farmers are still thinking about the old program or not. This is a totally new program. It’s a much better risk management tool for dairymen, and I, frankly, can’t understand anyone, certainly anyone that is producing less than 5 million pounds of milk, not participating in this program.”Brown is unsure of the progress of getting Hoosier dairy producers to sign up for DMC.“The one thing we haven’t known is we’ve had a lot of dairy operations that don’t exist anymore; they’ve stopped milking. It’s been hard to put a number on the number of dairy operations in Indiana.”Brown urges farmers to reach out to their local FSA office regarding this and many of the other programs they are currently administering if they have questions. By Eric Pfeiffer – Dec 9, 2019 SHARE SHARE Home Indiana Agriculture News 2020 Dairy Margin Coverage Program Signup Deadline is Friday Previous articleTrade War Has Cost $42B Since February 2018Next articleMartin to Review Recent Weather Patterns in Spring Preview at Indy Farm Expo Eric Pfeifferlast_img read more

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Heard puts TCU on her back, ends Frogs’ losing streak against the Sooners

first_imgReddIt Colin Posthttps://www.tcu360.com/author/colin-post/ Colin Post Linkedin Colin Post is a Sports Broadcasting and Journalism double-major from Houston, Texas. Along with sports writing, Colin hopes to work in sports announcing after he graduates. Facebook First TCU spring game since 2018 gets fans primed for a highly-anticipated fall TCU guard Lauren Heard moved into 7th all-time on the school’s scoring list in the Frogs’ win over Oklahoma on March 4, 2021. (Photo courtesy of gofrogs.com) Facebook TCU baseball finds their biggest fan just by saying hello Another series win lands TCU Baseball in the top 5, earns Sikes conference award Colin Posthttps://www.tcu360.com/author/colin-post/ ReddIt Twitter Taylor’s monster slam highlights big weekend for TCU Athletics Previous articleTCU’s NAACP chapter hosting block party for Race & Reconciliation Initiative FridayNext articleTCU’s mask mandate to remain in place Colin Post RELATED ARTICLESMORE FROM AUTHOR Colin Posthttps://www.tcu360.com/author/colin-post/ Twitter printWith TCU riding a four-game losing streak and sitting in the bottom fourth of the conference standings, a win for the Frogs in Norman on Thursday night was going to take a superhuman effort.The team’s leading scorer – senior guard Lauren Heard – stepped up to the plate and delivered a strong performance to get the job done for TCU.Falling just one rebound short of a triple-double, Heard led the Frogs to a thrilling 83-79 win over the Sooners on Thursday, and TCU has now defeated the Oklahoma three straight times on their home court.Heard finished with 31 points (her second game in a row to reach the 30-point mark), nine rebounds and a school-record 11 steals. Her 13 made free throws also now sit at third in TCU single-game history.The senior, who was a preseason Naismith Award watchlist member, was most present in the fourth quarter. She scored eight of TCU’s first 10 points in a period where they outscored Oklahoma 27-19.Things were tense between the two teams up until the final seconds, but the Frogs were able to ice the game at the free-throw line with 17 seconds remaining following the Sooners’ missed three-pointer on their last relevant possession.TCU scored 23 points in the second quarter, their highest all season, on 47 percent shooting as a team to go up 41-36 at the halftime break.Before their game-clinching fourth quarter, the Frogs also showed poise by recovering from an 18-3 Sooners run to only be down four going into the final 10 minutes.Joining Heard in double figures for TCU were guards Aja Holmes and Tavy Diggs, who scored 13 and 12 points each, respectively.Forward Michelle Berry also put forth a well-rounded effort in the win, tallying nine points, five rebounds, five assists and two steals.The win was just the fourth in Big 12 play for TCU, leaving them as the 8th seed in the standings with the conference tournament in just a week.Before the tournament, the Frogs have their season closer at home against the Texas Longhorns. Tip-off is scheduled for Sunday, March 7 at 1 p.m. Linkedin TCU rowing program strengthens after facing COVID-19 setbacks Colin Posthttps://www.tcu360.com/author/colin-post/ Another series win lands TCU Baseball in the top 5, earns Sikes conference award Despite series loss, TCU proved they belong against No. 8 Texas Tech + posts last_img read more

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RSF urges reenactment of French reporter’s murder five years ago in CAR

first_img Help by sharing this information May 9, 2019 – Updated on May 10, 2019 RSF urges reenactment of French reporter’s murder five years ago in CAR News Organisation News Reporters Without Borders (RSF) calls on the authorities in the Central African Republic to complete all necessary investigations into French photojournalist Camille Lepage’s murder five years ago, including a reenactment of the crime, in order to establish the facts of the case before it comes to trial, which could happen quite soon. In what circumstances was Lepage shot dead in the CAR’s western Bouar region on 12 March 2014? After being mislaid for a time in the capital, Bangui, the Lepage murder case file has been found again, but the motive for her murder and the exact circumstances have yet to be established.For the time being, the investigators seem to working on the assumption that the – mostly Christian – “anti-balaka” militiamen with whom Lepage was travelling were the victims of an ambush. But other theories, such as a dispute between rival militias, cannot be ruled out until all the necessary investigations have been concluded.During the most recent criminal assizes in Bangui, the Lepage murder was added to the list of upcoming cases, suggesting that it could come to trial shortly.“Five years after Camille Lepage’s murder, there is an urgent need to complete the CAR and French investigations and ensure that every effort has been made to establish the facts before holding a trial, which for the time being seems premature,” said Arnaud Froger, the head of RSF’s Africa desk. “We call on the French and CAR authorities and the United Nations mission in the CAR to do whatever is needed to carry out a reenactment of the murder, in order to get a more precise picture of the circumstances surrounding the crime.”Lepage’s mother, Maryvonne Lepage, told RSF: “We will probably never know who exactly shot Camille, but a more extensive field investigation and visit by the judges to the scene of the crime would improve our chances of identifying the assailants, their leaders and their motives.”Film about Camille LepageAt the end of last year, a crew went to the CAR to make a film about Lepage, which could be released by the end of this year. “It shows what was special about Camille, her commitment to covering the conflict in the Central African Republic at first hand, in the field, with a very powerful human connection,” said Boris Lojkine, the film’s director.The CAR continues to be a dangerous country for journalists five years after the civil war began. Three Russian reporters were murdered in the CAR last year after going there to investigate the presence of Russian mercenaries. The complete lack of transparency with which the investigation into their deaths has been conducted led RSF to call for an international investigation.The CAR is ranked 145th out of 180 countries in RSF’s 2019 World Press Freedom Index, after falling 33 places. Central African RepublicAfrica Protecting journalists DisappearancesImpunityFreedom of expressionPhotoreportage News RSF_en Receive email alerts Six years on, same unanswered questions about French journalist’s death in CAR RSF decries arbitrary blocking of two CAR news websites CAR policeman who shot reporter must be punished, RSF says May 13, 2020 Find out more December 13, 2019 Find out more News Follow the news on Central African Republic Central African RepublicAfrica Protecting journalists DisappearancesImpunityFreedom of expressionPhotoreportage April 6, 2021 Find out more to go furtherlast_img read more

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OSCE and Reporters Without Borders call for defamation to be decriminalized

first_img to go further Use the Digital Services Act to make democracy prevail over platform interests, RSF tells EU FranceEurope – Central Asia RSF_en “We’ll hold Ilham Aliyev personally responsible if anything happens to this blogger in France” RSF says At the end of a round-table held in Paris on 24-25 November by ReportersWithout Borders and the OSCE representative for media freedom, participantsadopted recommendations aimed at decriminalizing defamation and repealinginsult laws, which are responsible for many press freedom violations inEurope. June 4, 2021 Find out more Organisation Help by sharing this information FranceEurope – Central Asia News News RSF denounces Total’s retaliation against Le Monde for Myanmar story Receive email alerts November 25, 2003 – Updated on January 20, 2016 OSCE and Reporters Without Borders call for defamation to be decriminalized News Reporters Without Borders and the Organisation for Security and Co-operation in Europe’s representative for media freedom, Freimut Duve, reiterated calls for the decriminalization of defamation in OSCE-member countries today at the end of a two-day round-table on the issue which they jointly organised in Paris.”It is urgent that we ensure that defamation is no longer used to gag the news media,” Reporters Without Borders secretary-general Robert Ménard said. “We must decriminalize defamation so that no journalist is ever given a prison sentence again, and we must completely eliminate the insult laws that protect public officials. These are laws from another age, unworthy of a modern democracy.”The work of the news media has been obstructed for years by the existence of harsh defamation and insult laws in many OSCE and European Union member countries that put pressure on journalists, especially when they call public officials into question.Participants in the round-table, who included experts, lawyers and journalists who have been prosecuted for defamation, adopted recommendations on the way to proceed with the decriminalization of defamation and the repeal of insult laws, which overly protect government officials.”Such laws often push journalists to censor themselves and encourage them to refrain from investigating corruption cases for fear of being prosecuted for defamation,” OSCE representative Duve said. “Defamation is also crime in western countries and the argument that is rarely applied is unacceptable.”Read the recommendations June 2, 2021 Find out more News Follow the news on France May 10, 2021 Find out morelast_img read more

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The New, Old Pasadena Farmers Market Kicks Off August 4

first_img Top of the News 13 recommended0 commentsShareShareTweetSharePin it Your email address will not be published. Required fields are marked * faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes More Cool Stuff Community News EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS HerbeautyRub This All Over Your Body And He’s Guaranteed To Swoon Over YouHerbeautyHerbeautyHerbeauty6 Fashion Trends You Should Never Try And 6 You’ll LoveHerbeautyHerbeautyHerbeauty15 things only girls who live life to the maximum understandHerbeautyHerbeautyHerbeautyWant To Seriously Cut On Sugar? You Need To Know A Few TricksHerbeautyHerbeautyHerbeauty8 Easy Exotic Meals Anyone Can MakeHerbeautyHerbeautyHerbeauty11 Signs Your Perfectionism Has Gotten Out Of ControlHerbeautyHerbeauty First Heatwave Expected Next Week Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Neighborhood News The New, Old Pasadena Farmers Market Kicks Off August 4 Every Sunday starting August 4th From STAFF REPORTS Published on Wednesday, July 31, 2013 | 1:33 pmcenter_img Subscribe A new Farmers Market is coming to town on August 4.The grand opening of the Old Pasadena Farmers Market will be held Sunday, August 4 from 9:00 a.m. until 2:00 p.m. on Holly Street in Old Pasadena. The new, certified, farmers market will take place every Sunday throughout the year showcasing the best in organic and locally grown fresh produce, planted orchids and cut flowers, artisanal jams and chutneys, fresh baked goods, gourmet olive oils and spreads, homemade tamales, specialty cheeses, hand pressed juices, and much more!The Old Pasadena Farmers Market is coproduced by Southland Farmers Market, the nonprofit organization that started and produced some of the finest farmers markets in the world including the Hollywood Farmers Market, and the Santa Monica Farmers Market. Southland Farmers Market prides itself on purchasing quality produce from certified local growers and producers.In addition to enjoying the new market, the first 250 attendees will receive a free commemorative canvas tote bag with the market logo designed by the esteemed local illustrator Paul Rogers. Rogers has been commissioned to design for the 2012 London Olympics, the 2009 US Open, the LA Dodgers, and the US Postal Service. We think his work for the Old Pasadena Farmers Market is some of his best to date.For more information including parking information and more visit www.oldpasadena.org/farmersmarket.About Old Pasadena ManagementThe Old Pasadena Management District (OPMD) is a non-profit business organization that creatively plans, manages and develops Old Pasadena as a unique, authentic and vibrant downtown experience. The OPMD currently contracts with the City of Pasadena to manage the Old Pasadena Business Improvement District (BID). The BID enhances the basic City services by funding district-wide security, marketing, and maintenance programs to provide a clean, safe vibrant downtown experience. Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Make a comment Community News Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Name (required)  Mail (required) (not be published)  Website  Business News Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadenalast_img read more

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Woman in court charged with stealing 30k from Culmore Parish Church

first_img RELATED ARTICLESMORE FROM AUTHOR 365 additional cases of Covid-19 in Republic By News Highland – January 23, 2014 Woman in court charged with stealing 30k from Culmore Parish Church Pinterest Facebook Gardai continue to investigate Kilmacrennan fire 75 positive cases of Covid confirmed in North Facebook Twitter Previous articleDeputy Pringle – Donegal County Council penalised for balanced budget booksNext articleSatire play on the Bible cancelled in Belfast for being blasphemous News Highland WhatsAppcenter_img Pinterest Twitter Further drop in people receiving PUP in Donegal WhatsApp Google+ News Main Evening News, Sport and Obituaries Tuesday May 25th Google+ Man arrested on suspicion of drugs and criminal property offences in Derry A woman has been sent for trial on charges of stealing more than £30,000 from a local church in Derry.Lyndsey Bredin (27) of 12, Primity Crescent in Derry appeared at a preliminary enquiry at Derry Magistrate’s Court today.She was charged with 19 counts of stealing the money from Culmore Parish Church on dates between March 24 2010 and October 17 2011.It was accepted that there was a case to answer and Bredin said she did not wish to call any witnesses or make any statement at this stage.She was released on her own bail and returned for trial to Derry Crown Court on February 13.last_img read more

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No Merit In ‘Charging Interest On Interest’ For Deferred Payments During Moratorium, Says SC

first_imgTop StoriesNo Merit In ‘Charging Interest On Interest’ For Deferred Payments During Moratorium, Says SC LIVELAW NEWS NETWORK17 Jun 2020 12:17 AMShare This – xThe bench was told that 90% of borrowers have not availed moratorium.The Supreme Court on Wednesday said there is “no merit in charging interest on interest” for deferred loan payment instalments during the moratorium period announced in wake of the COVID-19 pandemic. A bench headed by Justice Ashok Bhushan observed that once moratorium is fixed then it should serve the desired purposes and the government should consider interfering in the matter as…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Supreme Court on Wednesday said there is “no merit in charging interest on interest” for deferred loan payment instalments during the moratorium period announced in wake of the COVID-19 pandemic. A bench headed by Justice Ashok Bhushan observed that once moratorium is fixed then it should serve the desired purposes and the government should consider interfering in the matter as it cannot leave everything to banks. “Once the moratorium is fixed then it should serve the desired purposes and we see no merit in charging interest on interest,” the bench, also comprising Justices S K Kaul and Justice M R Shah, orally observed. The bench was hearing a plea filed by an Agra resident Gajendra Sharma, who has sought a direction to declare the portion of the RBI’s March 27 notification “as ultra vires to the extent it charges interest on the loan amount during the moratorium period, which create hardship to the petitioner being borrower and creates hindrance and obstruction in ‘right to life’ guaranteed by Article 21 of the Constitution of India”. Solicitor General Tushar Mehta, appearing for the Centre and the Reserve Bank of India, told the apex court that waiving the interest completely will not be easy for banks as they have to pay interest to their depositors. “There are 133 lakh crore rupees in deposits with banks and interest has to be paid on them and the waiver will have a cascading effect,” Mehta told the bench. The bench, which posted the matter for hearing in first week of August for allowing the Centre and the RBI to review the situation, asked the Indian Banks Association to examine whether they can bring new guidelines in the meantime on the issue of loan moratorium. Mehta argued that complete waiver of interest during moratorium period might risk the financial stability of banks and this would put the interests of depositors in jeopardy. The counsel representing banks association and State Bank of India (SBI) urged the bench that the matter should be deferred by three months. The counsel appearing for banks said that plea seeking waiver of interest during moratorium period is premature and the banks would have to consider the issue on a case to case basis. On June 12, the top court had asked the Finance Ministry and the RBI to hold a meeting within three days to decide on waiver of interest on interest for deferred payments of instalments for loans during moratorium period. The top court had observed that the question is not of waiver of complete interest for entire moratorium period but it is limited only to interest charged on interest by banks. The petitioner has sought a direction to the government and the RBI to provide relief in repayment of loan by not charging interest during moratorium period. On June 4, the top court had sought the Finance Ministry’s reply on waiver of interest on loans during the moratorium period after the RBI said it would not be prudent to go for a forced waiver of interest risking financial viability of the banks. The apex court had said there are two aspects under consideration in this matter – no interest payment on loans during the moratorium period and no interest to be charged on interest. It had observed that these are challenging times and it is a serious issue as on the one hand, moratorium is granted and on other hand, interest is charged on loans. On May 26, the top court had asked the Centre and the RBI to respond to the plea challenging levy of interest on loans during the moratorium period. The RBI in its reply has told the court that it is taking all possible measures to provide relief with regard to debt repayments on account of the fallout of COVID-19 but it does not consider it prudent to go for a forced waiver of interest, risking the financial viability of the banks it is mandated to regulate, and putting the interests of the depositors in jeopardy . The RBI said the March 27 circular announcing moratorium was later modified on April 17 and May 23 by which the moratorium period was extended by another three months that is from June 1 to August 31, 2020 on payment of all installments in respect of term loans (including agricultural term loans, retail and crop loans). “It is submitted that regulatory dispensations permitted by the Reserve Bank of India vide the aforesaid circulars dated March 27, 2020 which subsequently stood modified on April 17, 2020 and May 23, 2020 were with the objective of mitigating the burden of debt servicing brought about by disruptions on account of COVID-19 pandemic and to ensure the continuity of viable businesses. “Therefore, the regulatory package is, in its essence, in the nature of a moratorium/deferment and cannot be construed to be a waiver,” it said. The RBI had said that in order to ameliorate difficulties faced by borrowers in repaying accumulated interest for the moratorium period, on May 23 it had announced that in respect of working capital facilities, 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.Click here to download OrderRead Order Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more

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