To                                                                                                      Date- 04/05/2020

Shri Shaktikanta Das

Governor

Reserve Bank of India, Central Office Building

18th Floor, Shahid Bhagat Singh Road

Mumbai-400 001

Sub- STOP EMI for all business and retail customers for next 6 Months

Dear Governor,

As you know, the lockdown is extended till the 17th of MAY 2020, as corona cases have grown dramatically over the last several days. Corona case reduction continues to be an important priority for the government of India and successfully taking care of Indian citizens.

President of Social workers organization and business consultant I am writing this letter to you on behalf of my organization. We have some expertise in the core team and we have done some study on how the Indian economy can be boosted in this current situation. We are sending some communications from our end to each and every concern department, where we feel that something can be done.

As we all know, now to achieve targeted GDP is a really big challenge for the Indian economy. We have some observations that, everywhere right now major problem is cash flow, including business and retails shop owner or end consumers.  This problem can be solved by giving some money in the hand of everyone. The government of India is already taking some steps to do the same. I am suggesting that if RBI can give guidelines to public and private banks and stop EMI for all business and retail customers for next 6 months starting from the month of MAY 2020 to OCT 2020, then everyone will get some money in hand and then they will spend that money in the market. This step will increase cash flow in the market and the economy will come on the track soon.

Banks have to ensure that they will not charge additional interest on these (PAUSE) stop EMI’s. IF Banks will start making money from this arrangement; then again people will not float this money in the market.

With the help of this extraordinary decision, I believe that we can give Indian citizens their best chance to lead lives of meaning and purpose. Thank you for your commitment and collaboration on this important COVID19 issue.

Thanking you with warm regards,

Sincerely,

Dr.Prashant Khande

Chairman, SPARTBN Social Workers Federation of India

Mob-8446763999