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02 Mar 2024, Edition - 3154, Saturday

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Coimbatore

Pending loans, interests should not be treated as NPA

Covai Post Network

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Coimbatore : DMK today urged the district collector to take steps and ask the banks for not treating as NPA the loans of
industrialists, who were not able to repay them due to present crisis.

In a letter to the collector, K Rajamani, DMK MLA, N Karthik said that the administration should prevail upon the banks to waive the six month interest taken on the loan and also extend the date for paying EMI for another six months.

With the lock down due to Coronavirus scare, thousands of small and medium industries in the district, already are in a critical condition,
was not  able generate income and pay to their workers, he said. 

Though RBI had given three months time to repay the interest and loans the industries were not able to repay it in March as planned, following the
lock down, he said. 

In view of this some Nationalised banks have issued notice to industries to pay the loan and interest by April, if not this will be treated as NPA, Karthik pointed out. 

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