SRS asks Banks to take care of loan depositors amidst corona scare

JAMMU, Mar 21: Shri Ram Sena (SRS) on Saturday appealed to Lt Governor GC Murmu to direct Banks not to charge during shut down period those who have availed Bank limit facility and also those who have taken loans from Banks for different purposes whether they are transporters, small businessman as when there is shutdown, how can those have no work could deposit bank installments.
In a press statement issued here, Shri Ram Sena J&K President Rajiv Mahajan maintained that amidst coronavirus scare worldwide all sectors have been badly hit and J&K is no exception.
He appealed Banks not to apply auto cut installment system as unless one deposits in it, the auto-cut will be injustice with them who have limited amount in Banks and with difficulty somehow manage accounts.
Stop clearing house, Cheque bounce penalty must also be avoided there is already hodgepodge everywhere in view of Corona outbreak throughout world, he said.
Mahajan further said that business community was completely devastated and exhausted and their survival is under threat and our humble submissions to the banks that they are not willful defaulters but are circumstantial defaulters, which they have been forced to be.
He further said they are aware of the fact that they have to repay the banks but all they want is that they will pay with respect and honour.
He also stated that the “present disruption” has resulted in loss of jobs to lakhs, borrowers of financial institutional have lost their capacity to fulfill their commitments and a substantial number of accounts are likely to turn bankrupt, many business establishments have closed down or are contemplating closure. The sectors directly dependent on internet, like information technology and e-commerce, have been ruined.
Despite internet and mobile services did not work in J&K for months together due to the communication blockade imposed by the government, cellular companies charged the subscribers for the period.
Mahajan maintained that coronavirus impact on the economy would be temporary and all affected sectors, including tourism, would start reviving soon.
However, he demanded to introduce relief packages in the near future addressing the key concerns of the entire private sector. As the inflow of foreign tourists has halted completely, while the movement of domestic tourists has also slowed down, tourism entrepreneurs have started shutting down their businesses gradually.
“Almost every sector has been affected by coronavirus. It is necessary that the government properly carries out assessment of the impact of the virus and introduce measures to address them immediately,” he said.

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