PMK founder S. Ramadoss on Thursday urged the Reserve Bank of India to intervene and waive off the interest for EMI of term loans which are deferred for three months.
In a statement, he pointed out that each bank has taken different approach in granting the relief, but have been united in saying that interest would be accumulated for the three months.
“This is unfair and goes against the concept of relief for affected people. This loan deferment exercise should not become an eyewash,” Mr. Ramadoss said.
He urged the RBI to direct the banks to collect only the outstanding amounts on March 31.
