Stalin Wants CM to Get Together to Achieve a Moratorium on Loans for MSMEs and Small Businesses | Chennai News



CHENNAI: Tamil Nadu chief minister M.K. Stalin wrote a letter to my colleagues in 12 states on Tuesday to get together to receive from the Center moratorium on the loan repayment from IHR and small business.
Describing the collective effect of CM as a “tool” that convinced the Union government and Prime Minister Narendra Modi to change vaccination policies, Stalin urged them to unite again in the name of MSMEs and small businesses.
“I believe all state governments must unite again to address the pressing problem of asymmetry in the treatment of borrowers, especially MSMEs and small borrowers, during the first and second waves of COVID-19,” Stalin said in a letter to Andhra Pradesh leaders. , Bihar, Chhattisgarh, Delhi, Jharkhand, Kerala, Maharashtra, Odisha, Punjab, Rajasthan, Telangana and West Bengal.
Pointing to the Union government’s decision to impose a loan repayment moratorium on MSMEs and small borrowers after it announced a nationwide lockdown last year, Stalin said similar relief was not provided to such borrowers this year when the state government imposed a pending lockdown. local conditions. conditions.
“I have discussed this with the Indian government with a request to impose a moratorium on loan repayments,” he said and asked all states to write to both the Union Treasury Secretary and the State Governor. Reserve Bank of India persuade them to offer a loan repayment moratorium for at least the first two quarters of 2021-2022 to all small borrowers with an outstanding amount of up to Rs 5 crore due to a lockdown due to the second wave of the pandemic.


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