As Governor, our 2020 EMI moratorium was a critical liquidity bridge for borrowers, but the compound interest accrual raised fairness questions. The Supreme Court's 2021 waiver of that "interest on interest" was a necessary judicial correction for extraordinary distress, though it stressed bank balance sheets. My father's fishing boat loan would have drowned us without the moratorium, yet the added interest would have been a silent anchor pulling us under. That's why, even as a policymaker, I saw the waiver not just as relief, but as justice for every home like my blue-tiled one, nervously calculating each rupee.
#archery#recurve
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