EMI Holiday due to COVID19 Lockdown

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Requesting the Union government to announce  Equated Monthly Instalments (EMI) Holiday for at least 3 months due to Novel Corona Virus LockDown implementing in the country. As there are so many self employees and small scale industry maintenance people in the country are unable to pay the EMIs to the banks. With that, all of them will be treated as defaulters according to the  CIBIL norms.   

We appreciate the initiatives and action plans of the Government of India to combat the epidemic COVID - 19 virus. This situation has paralyzed the system worldwide. Other developed countries have managed to survive governments and people economically due to their reserve funds and insufficient economic strengths. When it comes to India, being a developing country for the last 73 years since independence has been very difficult and turbulent.

There are a lot of families who are working-class based on Bussiness and also self-employment in India and everyone has commitments to pay EMIs. It is impossible for a common man to survive in this crisis. That is why we are requesting the  Government of India should consider declaring EMI Holiday for at least 3 months. It does not cost the Government of India or the banks and does not incur any losses, but it is a great relief to the common man in this crisis. Please do the required review process and refer banks and other lenders in this regard through RBI.

Your’s Truly,
Shaik Abdul Khadar, Dr Sajida


Jai Hind.