Crores of people are in financial distress due to the Corona crisis. RBI and Finance ministry have come with a few measures, of which, individuals have received moratorium, where Individuals and businesses can defer their loan EMI for 6 months. However, this 6 month moratorium period attracts interest which has to be paid later (not later to 31st March 2021).
Interest on loans has been challenged in the Supreme Court. As the government has mandated the lock-down and asks individual to pay EMI along with compounding interest when their future looks uncertain. Some of us have got pay cuts and some lost jobs. And Finance Ministry and RBI expecting us to pay interest during this 6 month moratorium is adding a financial burden on almost all the working class population.
This petition is a request to get waiver on Interest during moratorium.
16 Comments
I fully support this and yes it should be taken care by elected government by the people for the safety of the people
Dear Mr. Kumar, Thank for signing the petition. Banks are charging 8-45% per annum interest on various products.
Waive moratorium interest for the entire period
Yes intt needs to be waived as it will have cumulative affect
Yes it should be waived and also reliogously moratorium should be given
I support
It's for middle class people
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Crores of people are in financial distress due to the Corona crisis. RBI and Finance ministry have come with a few measures, of which, individuals have received moratorium, where Individuals and businesses can defer their loan EMI for 6 months. However, this 6 month moratorium period attracts interest which has to be paid later (not later to 31st March 2021).
Interest on loans has been challenged in the Supreme Court. As the government has mandated the lock-down and asks individual to pay EMI along with compounding interest when their future looks uncertain. Some of us have got pay cuts and some lost jobs. And Finance Ministry and RBI expecting us to pay interest during this 6 month moratorium is adding a financial burden on almost all the working class population.
This petition is a request to get waiver on Interest during moratorium.
16 Comments
Mr Thatha, Thank you for signing. Petition is files in Supreme Court, hearing is on 12th June.
I fully support this and yes it should be taken care by elected government by the people for the safety of the people
Dear Mr. Kumar, Thank for signing the petition. Banks are charging 8-45% per annum interest on various products.
Waive moratorium interest for the entire period
Yes intt needs to be waived as it will have cumulative affect
Yes it should be waived and also reliogously moratorium should be given
I support
It's for middle class people
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Mr Thatha, Thank you for signing. Petition is files in Supreme Court, hearing is on 12th June.