Maharashtra Ministry urges Centre to temporarily halt financial dealings

Maharashtra State Public Works Department Minister Ashok Chavan on Tuesday urged to Centre to temporarily halt all recovery of all financial institutions through the Reserve Bank in view of the trade-offs caused by Coronavirus.

In his statement issued by him to media Mr Chavan has demanded that all payment of loan installments, cash credit interest, credit card bills etc be suspended immediately in view of present ongoing situation.

In his letter to State Chief Minister Uddhav Thackeray and Deputy Chief Minister and Finance Minister Ajit Pawar saying that the state government should make recommendations to the central government in this regard.

He mentioned that citizens have been urged to stay at home to prevent the spread of the virus. All private establishments have been closed except for urgent services.

However, debt recovery, EMI, installations, auto debit etc have not been stopped.

Today, farmers, small and big businessmen, entrepreneurs, employees, contract workers, workers are all trapped in the house.

Most people have little money. Banks would continue to be essential services. But the industry and businesses are all jammed because the money exchange has stopped, he said.

Therefore, the issue should be taken seriously and all financial institutions and banks should temporarily postpone all collection.

However, the GST statement and income tax filing deadline should also be extended,he demanded.