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COVID-19: Politicians seek relief in loan repayments

Press Trust of India  |  Mumbai 

Politicians cutting across party lines on Tuesday demanded relief for customers paying equated monthly installments (EMIs) and on repayment of loans taken by small traders and other sections of the soceity in the wake of lockdown triggered by the coronavirus outbreak.

BJP leader Kirit Somaiya wrote to RBI Governor Shaktikanta Das, uring him to declare a three-month moratorium for EMIs, repayment of loans by individuals, self-employed people, small traders and retail borrowers.

Their income has been adeversely affected due to the coronavirus-induced lockdown, which has paralysed normal life and businesses, the former Lok Sabha MP said.

Maharashtra PWD minister Ashok Chavan demanded that the Central government provide temporary relief and halt recovery of dues by financial institutions.

Payment of loan installments, credit card bills and interest on them should be suspended immediately, the Congress leader said.

Former minister Kripashankar Singh wrote to Chief Minister Uddhav Thackeray and Prime Minister Narendra Modi, urging them to give a waiver of three months to small and medium enterprises on payment of taxes.

Protect the interest of salaried class by giving them three-month time to pay their credit card bills and loan EMIs, Singh said.

The former minister suggested using CSR (corporate social responsibility) funds to battle COVID-19, including for carrying out medical tests.

Corporates who make available coronavirus testing kits should be given tax exemption, Singh said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 24 2020. 20:26 IST
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