The Live Nagpur
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary

The Live Nagpur


  • Home
  • City
  • Politics
  • Business
  • Education
  • Entertainment
  • Sports
  • Health
  • Crime
  • Forest
  • Featured
  • Vidarbha
Nagpur City

Nagpur Trailer Owners Union seeks waiver of loan and 6-month extension on repayment

by TLN Team May 24, 2021
written by TLN Team May 24, 2021
Nagpur Trailer Owners Union seeks waiver of loan and 6-month extension on repayment

With the extension of lockdown-like restrictions in the state to curb the widespread of the deadly COVID-19 virus many businesses are suffering, many people are finding it difficult to pay their bills and loans.

With the current economic condition The Members of Nagpur Trailer Owners Union, interalia engaged in the business of transportation wrote a letter to Union Minister Nitin Gardakri requesting to waiver of Interest on the loan and extension of time for repayment of monthly installment by the period of 6 months after the lifting of lockdown.

“Since March 2020 the Central/State has imposed certain restrictions for trade, occupation or business. We are worstly affected on many counts as since the Government has declared lockdown, migrants including drivers and cleaners went to their respective villages and therefore because of the shortage of employees i.e. drivers and cleaners we could not effectively carry out our business since March 2020” the letter said.

“Even it appears from the current scenario that it would take 6 to 8 months to come to normalcy. Secondly, during this tenure there is a tremendous hike in fuel prices that is also one of the reasons why our business has been worst affected” reads the letter.

“There are many more reasons which affected our business. Under these circumstances, it would be in the interest of justice to consider the request for waiver of interest from March 2020 till the lockdown is completely lifted. So also you are requested to grant six months duration to pay the regular installments after the uplift of the lockdown” the union requested. Giving examples of other countries who had taken the decision in respect of the interest waiver the Union wrote that “It is learned that some of the countries like Nepal, Bhutan, etc. have taken the decision in respect of the interest waiver. Some of the developed countries have come up with a concrete plan to safeguard the interest of small businessmen. If the waiver of interest is not granted then it would be very difficult for us even to survive. Under these circumstances, it would be appropriate to take some policy decisions in respect of waiver of interest on the loan amount for a period March 2020 till the lockdown is completely lifted”.

0 comment
FacebookTwitterLinkedin
TLN Team

previous post
OnePlus-Flipkart strengthen partnership with the launch of value Smart TVs
next post
NTPC Takes Steps To Curb Spread of Covid-19 in its Second Wave

You may also like

No threat of Corona fourth wave: Rajesh Tope

May 23, 2022

Nagpur records 41.5, Brahmapuri hottest with 42.2

May 23, 2022

Goats distributed to 100 women for earning livelihood 

May 23, 2022

Zero Shadow Day in Nagpur on May 26

May 23, 2022

RTMNU’s 109th Convocation on Wednesday

May 23, 2022

Rakesh Jhunjhunwala-backed Akasa Air posted photos of airlines

May 23, 2022

BIS conducted raid on spurious manufacturer of Electronics...

May 23, 2022

10 Summer Special Trains between Dadar and Kazipet

May 23, 2022

Nagpur railway station to have emergency medical room...

May 23, 2022

MSRTC begins tourists Bus service

May 23, 2022

Trending News

  • Three injured after falling from mid-air during paprasailing

    May 23, 2022
  • RTMNU exam in MCQ format off-line mode

    May 20, 2022
  • Umran Malik becomes youngest bowler to take 20 wickets in an IPL

    May 19, 2022
  • Mini MBA course in just one rupee, know how

    May 17, 2022
  • Know how to block spam calls on iPhone

    May 16, 2022

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Search

May 2021
M T W T F S S
« Apr   Jun »
 12
3456789
10111213141516
17181920212223
24252627282930
31  

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary
  • Privacy Policy
  • Disclaimer
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us
  • Work with us
  • Contact Us

© 2020 - The Live Nagpur . All Rights Reserved.