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| Traders demand relief in EMI payments as business stays nil during lockdown | | | ASHWANI SHARMA
EARLY TIMES REPORT
UDHAMPUR, May 19: As the lockdown triggered by COVID-19 pandemic has badly hit the business and trade, those who have taken loans from banks are demanding some relief either in the form of interest waiver or extension in dates of EMI payments.
It is pertinent to mention here that only shops dealing with essential commodities are allowed to open in lockdown for a few hours while all the other business establishments are closed for the last three weeks due to which the source of income of several traders has been badly hit.
“I have to pay Rs 10,000 per month to a Bank as EMI installment for the loan availed for my four wheeler passenger auto but the lockdown has completely derailed my budget. I am finding it difficult to arrange the installment now,” an auto driver said.
He said that for the last one month his auto is standing idle and there is no work but the bank has been calling him to pay the EMI.
Similar was the case of some shopkeepers who have secured loans to open their shops, purchase cars or for construction of homes.
“I have availed a loan of Rs 10000 with interest from a bank,” Baloo Ram, 58, running a food vending stall in Udhampur town, said, adding that there is no work at present due to which he is unable to generate any income for the last more than a month but the bank is demanding the installment.
He said that a few days back the government announced Rs 1000 relief per month per head for registered labour but the vendors like him were ignored.
Many of such stakeholders demanded that the banks should hold their demands of EMIs at present till the situation improves so that they get some reprieve for the time being.
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