Extend EMI repayment relief: Stalin

DMK president M.K. Stalin on Sunday urged the Centre and the Reserve Bank of India (RBI) to extend to another six months relief from paying EMI for bank loans in view of the COVID-19 pandemic.

In a statement here, he said the RBI should not charge interest or penal interest for the corresponding period. “This is the only way to restore the livelihood of the poor and middle class. The Reserve Bank and Finance Minister Nirmala Seetharaman should come forward to help them,” he said.

Recalling RBI Governor Sakthikanda Das’ speech quoting from Leo Tolstoy’s novel War and Peace that ‘a battle is won by those who firmly resolve to win it,’ Mr. Stalin said the poor, middle class, medium and small industries were waging a similar war.

“The RBI should extend a helping hand. It will not be difficult for the RBI which has already released ₹57.128 crore to the Centre,” he said.

Source: Read Full Article