Relaxation in EMI due to COVID-19. Appeal to Govt. of India for 6 months relief.

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COVID-19 has created havoc all over the world. Worlds strongest economic powers have been brought down on its knees affecting billions of people across the world.  With no definite medical cure available people have been asked to simply lock down themselves and maintain social distance.

Under such circumstances we earnestly request the Ministry of Finance, Government of India to relax all EMIs payable by individuals and organisations for next 6 months starting March 2020 to ensure that both individuals and organisations have enough cash flow to sustain themselves. These 6 months can be added to the tenure so that even Financial institutions don’t run into a loss of revenue.

Countries after Country have shut down operations including India. Infact the shut down in India is being considered to be the biggest shut down ever in the history of mankind. We still don’t know when shall we get back to normalcy and how deep shall the dent be. Organisations have shut shop even Government Departments are not functioning. Professionals, Servicemen, SME’s everyone has come to a complete halt. Though Government employees have been assured of their jobs and salaries, private businesses and their employees have no clue what is in store for future.

We therefore request our wise Government to help us withstand the acute financial crisis we are already into.