RBI asked to 'Declare 3 month moratorium on EMIs & Monthly loan repayments' by ex-MP

Amid the deadly coronavirus outbreak, BJP leader Kirit Somaiya on Tuesday has written to the Reserve Bank of India Governor Shaktikant DasShaktikanta Das requesting to grant three-month moratorium for EMI, Monthly Installments and Repayment of Loans. In his letter, he also mentioned the moratorium must be applied to the self-employed, small traders and retail borrowers as the income of people are affected due to a crisis caused by coronavirus lockdown and curfews in the entire country.

See the letter here:

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COVID-19 cases rise in India

In India, over 470 confirmed cases of the virus have been reported. Along with it, nine deaths have been reported until now. Numerous states have announced lockdowns and curfew has been imposed on few till at least March 31, suspending all public transport services and non-essential services. The state governments were advised to issue appropriate orders to allow only essential services to operate in the 75 districts which have reported confirmed cases or casualties relating to COVID 19.

The Coronavirus Crisis 

Presently, there are around 378,741 confirmed cases of COVID-19 which has led to the death of around 16,499 people. Meanwhile, around 101,608 have reportedly been recovered. The hardest-hit region, after China, is Italy, Iran and South Korea, where the number of cases is rising by the hour. 

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