STOCK MARKET BSE NSE

MP seeks extension of moratorium for hospital industry

MP Dr M Gurumoorthy on Saturday wrote to Union Finance Minister Nirmala Sitharaman urging her to extend the moratorium on bank loans to the hospitality industry.

Published: 23rd January 2022 10:31 AM  |   Last Updated: 23rd January 2022 10:31 AM   |  A+A-

YSRC candidate M Gurumoorthy meets CM Jagan at Tadepalli ( File Photo)

YSRC candidate M Gurumoorthy meets CM Jagan at Tadepalli ( File Photo)

By Express News Service

TIRUPATI: Tirupati MP Dr M Gurumoorthy on Saturday wrote to Union Finance Minister Nirmala Sitharaman urging her to extend the moratorium on bank loans to the hospitality industry due to the imminent crisis posed by the third wave and triggered by the highly transmissible Omicron variant.

Dr Gurumoorthy, in his letter to the FM, said due to Covid spread the economic activity has slowed down across all businesses and wanted to know if the government and the Reserve Bank of India (RBI) are planning to announce a moratorium on the bank loans.

Pointing out that the booming hospitality industry in the temple town of Tirupati had already once been impacted by Covid spread, he said: “Hoteliers, travel agents, and taxi operators are all staring at huge losses. Against this backdrop, I urge the concerned authorities to come to the rescue of the businesses...”



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp