Captured by : Photo by Vikram Nayak
VASCO
Demanding the State government’s intervention for an additional moratorium period on loans and a waiver of additional interest by nationalised banks for loans, GPCC Vice President Sankalp Amonkar on Thursday also sought reversal of NPA declaration by cooperative banks and finance companies.
Addressing reporters at his office, Amonkar said people from all walks of life had taken various loans prior to the pandemic and were regularly paying instalments till the time the time Covid struck the country.
“The Covid pandemic left several people unemployed and businessmen locked down, while taxi operators have also been badly affected at Dabolim Airport, Vasco railway station and Mormugao Port.”
“The RBI came up with a moratorium period of six months from March till August, but never offered clarity on additional and compounding interest for the moratorium.”
“As the six-month moratorium period ends in August, banks have now begun chasing people while some have been given additional period but have been levied with additional compounded interest to a tune of up to Rs 48,000 which is not feasible.”
“How can someone pay additional interest when they are out of business? While cooperative banks and finance companies have begun declaring the loan borrower as NPA, thereby destroying their credibility and future scope of availing any loans without any fault of theirs amid the pandemic,” said Amonkar.
Amonkar said all 4 BJP MLAs, including two ministers of Mormugao, should take up the issue with the government and extend the moratorium period extended, reverse the NPA declaration and waive off additional compound interest till economic activity resumes and life is back on track for the common man.
