No loan waiver, borrowers can take moratorium: CM
Source: Chronicle News Service

Imphal, March 04 2024: Acknowledging hardships faced by MSME sector and individuals who acquired loans for different purposes in the face of the current crisis in the state, chief minister N Biren has urged the loanees to avail benefits of the moratorium offered by the Reserve Bank of India (RBI) while asserting that the government would not discuss the demand for loan waiver as of now.

Wangkhei MLA Th Arun-kumar moved a calling attention motion in Monday's session of the Assembly drawing attention on the appeal of Meetei/Meitei Tribe Union to waive loans considering hardships faced by small time entrepreneurs.

In response, CM Biren acknowledged said that as per guidelines of RBI, relief measures were initiated for loanees in the form of moratorium for 12 months and to request for extending the moratorium period for another 12 months if the situation remains unstable.

He said that a notification was issued calling applications from affected loanees to air grievances and submit the same by September 20 last year.

As there were lukewarm responses, the deadline was extended till December end and again till March 24 this year.

He urged the affected loanees to submit their grievances by visiting their respective banks.

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