Kashmir Economic Forum demands 1 yr moratorium on loan repayments Archives

In view of ongoing crisis, the Kashmir Economic Forum (KEF) has demanded one year moratorium on repayment of loans by the affected borrowers. The forum has urged the state government to approach the Reserve Bank of India in this regard. The forum said the banks in the state were deducting the EMI along with interest from the accounts of Valley-based borrowers, especially the businessmen who have been badly affected by the ongoing crisis. Chairman KEF Showkat Chowdhary said the deduction of EMI was depleting the “borrowers’ deposits in the banks.”…