The Central government submitted before the Supreme Court on Tuesday that the loan moratorium period may get extended by up to two years in view of the ongoing COVID-19 pandemic and its impact on the economy.

A three-judge bench of the apex court, headed by Justice Ashok Bhushan, was hearing two pleas filed Gajender Sharma and lawyer Vishal Tiwari seeking to extend the moratorium period to help borrowers in deferring their EMI payment on term loans amid the pandemic.