COVID-19 Crisis: MP RK Ranjan urges private banks not to collect interest

Ranjan said that due to COVID-19 pandemic, the world economies have been severely derailed and it has affected different sections of the society in many ways.

MP RK Ranjan Singh urged all money lenders, private banks and self help groups in the state not to take interests for the loans given out to economically backward people until they are able to resume their normal productive works.

A release issued by Ranjan said that due to COVID-19 pandemic, the world economies have been severely derailed and it has affected different sections of the society in many ways.

The economic impact of the pandemic is yet to be determined but it has been apparent to everyone that fishermen, women, farmers, the service industries, educationist, handloom and handicraft workers, artisans, vegetable vendors etc. have been hit hard by the impact of COVID-19, it added.

Concerning the support given by government to fight COVID-19, the release stated that to bear the hardships given by present pandemic, Prime Minister, Narendra Modi under the National Disaster Relief Schemes and MLAs have been distributing essential commodities in every localities, the release said.  

Besides, the Reserve Bank of India announced the loan providers to collect their interest and EMIs only when the economic condition is improved, it added.

Stranded people from various parts of India or abroad are brought back to the state and the country respectively, the release said.

The release further stated the state is entering into a phase of easing the lockdown. As such, normalcy will resume sooner or later, it added.

"I am particularly concerned about the poor people, fisheries, agricultural workers, street vendors and those working at the unorganised sectors for their livelihood. I hope that with the schemes and economic revival packages, and other efforts made by our Prime Minister, the sufferings of the fellow citizens of the country will be eased to some extent," it said. 

First Published:June 10, 2020, 1:23 a.m.

Leave a comment