“KASSIA Urges Extension Of Repayment Moratorium”

We welcome the Government decision not to levy interest on interest on the deferred repayment of loans placed under moratorium due to the pandemic. This was indeed the right thing to do in view of the continuing disruptions in industrial operations, especially of MSMEs, and the worrying spread of the virus. However, KSSSIA strongly believes that there is need to extend the moratorium until March 31, 2021, in view of the alarming negative outlook for economic recovery in the near future and it’s impact on SMEs in the country. The Government and the RBI should also seriously consider complete waiver of interest on these loans by the MSMEs for the entire period of moratorium, for the longer term prospects of this sector.    

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