https://www.taxtmi.com/news?id=40538 The Kerala High Court found that the Union government and the NDMA had not exercised their statutory authority under the Disaster Management Act to direct banks to waive or write off loans of Wayanad landslide victims despite the disaster being categorised as "severe." The bench noted RBI cannot compel write-offs but NDMA can, observed that twelve banks' aggregate exposure to affected accounts was modest while Kerala Bank had fully waived loans, and directed the Union/NDMA to deliberate on invoking the Act to require banks to waive loans and to consider measures to support survivors' rehabilitation. en-us Thu, 10 Apr 2025 21:31:02 +0530 Thu, 10 Apr 2025 21:31:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=40538 The Kerala High Court found that the Union government and the NDMA had not exercised their statutory authority under the Disaster Management Act to direct banks to waive or write off loans of Wayanad landslide victims despite the disaster being categorised as "severe." The bench noted RBI cannot compel write-offs but NDMA can, observed that twelve banks' aggregate exposure to affected accounts was modest while Kerala Bank had fully waived loans, and directed the Union/NDMA to deliberate on invoking the Act to require banks to waive loans and to consider measures to support survivors' rehabilitation. News - Thu, 10 Apr 2025 21:31:02 +0530 https://www.taxtmi.com/news?id=40538