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Apr 6, 2009

Micro Units demand Intrest wavier !

Coimbatore Tirupur District Micro and Cottage Entrepreneurs Association has sought interest waiver on loans taken by the micro units in this region. A release from the association said operation in these units was severely hit with power shortage and economic slowdown and the units were unable to repay the loan.

The Government should waive the interest on the loan taken by these units and grant two-year time for repayment of the loan amount. The minimum balance for current account in nationalised banks should be Rs. 1,000 for the micro units. The Government should ensure that the banks do not insist on a higher amount.

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