Tamil Nad

Vasan asks Centre to waive interest on term loans

TMC president G.K.Vasan  

TMC leader urges Govt. to take into account economic hardship faced by people

Tamil Maanila Congress president G.K. Vasan welcomed the RBI’s decision to extend the term loan moratorium for three more months, but said it would be more beneficial only if the interest component was waived off.

In a statement, he noted that the COVID-19-related lockdown had severely affected income generation in sectors like agriculture, medium, small and micro industries and other segments.

The deferment of EMI payments on loans till August, overall by six months would give some relief, Mr. Vasan said.

However, he said no additional interest or any other charges should be collect when the EMIs were paid after six months.

Mr. Vasan urged the Centre to take into account the economic hardship faced by people and waive off interest.

A letter from the Editor

Dear reader,

We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, our lives and livelihoods, during these difficult times. To enable wide dissemination of news that is in public interest, we have increased the number of articles that can be read free, and extended free trial periods. However, we have a request for those who can afford to subscribe: please do. As we fight disinformation and misinformation, and keep apace with the happenings, we need to commit greater resources to news gathering operations. We promise to deliver quality journalism that stays away from vested interest and political propaganda.

Support Quality Journalism
Next Story