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Hotel industry wants RBI to extend moratorium till March 2021

Secretary, Hotel Association of India, Mr J K Mohanty said without such help from the RBI, the hotel industry in the country will collapse.

Statesman News Service | Bhubaneswar | July 31, 2020 7:25 pm

Hotel industry wants RBI to extend moratorium till March 2021

Reserve Bank of India. (File Photo: IANS)

The Hotel & Restaurant Association has appealed to the RBI to extend the moratorium on repayment of loan till March 2021.

In a letter to RBI Governor Shaktikanta Das, the Chairman – Hotel & Restaurant Association of Odisha & IATO Eastern Region, Hony. Secretary, Hotel Association of India, Mr J K Mohanty said without such help from the RBI, the hotel industry in the country will collapse.

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The moratorium on interest and principal repayment for six months has helped the industry to survive on short term basis, but it needs to be extended further, stated Mohanty. It is not possible to repay without any earning, noted Mohanty while referring to the lockdown periods across the country.

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“We hope RBI will understand the agony of the people of the industry who have not got salary since April 2020 and perhaps will not get salary till April 2021”, he added.

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