Buoyed by the change in Centre’s vaccine policy, Tamil Nadu Chief Minister MK Stalin has written to his counterparts in 12 states, seeking their support in demanding moratorium on loans by Small and Medium Enterprises. In the letter, he wrote that the Centre has reversed the country’s vaccination policy “due to our collective efforts” and added, “We need to show our collective strength at this hour of great need”.
Pointing to what he called an “asymmetry in the treatment of borrowers, particularly MSME units and small borrowers, during the first and second waves of Covid-19,” he asked the Chief Ministers to write to Union Finance Minister Nirmala Sitharaman and the Governor of the Reserve Bank of India on the issue.
There has been no relief announced during the second wave lockdown, he wrote. The Finance Minister should give relief at least for two quarters for loans upto Rs 5 crore.