AEPC seeks halt in NPA declaration, freezing EMIs for 1 year, Retail News, ET Retail

Davida Erdahl

New Delhi : The Attire Export Advertising Council (AEPC) has sought a suspension in declaration of non-carrying out belongings (NPA) and boosting the moratorium interval on term mortgage EMIs to just one 12 months.

In a letter to the Commerce and Sector Minister Piyush Goyal, AEPC Chairman A. Sakthivel wrote: “Non-declaration of companies’ accounts as NPAs might be extended for a minimal of just one 12 months as the lack of business coupled with fastened costs will make accounts as NPAs.

“Phrase mortgage EMIs need to be postponed by just one 12 months and RBI might increase the bill realization interval by six months in check out of the liquidity worries.”

Additional, the council has questioned for extension of the International Trade Coverage 2015-twenty for a even more interval of six months looking at the disaster owing to coronavirus pandemic, and a reintroduction of the MEIS plan for clothing exporters

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