Tag Archives: moratorium

In his letter to the PM, JK Mohanty, Chairman, IATO – Eastern Region and Co-Chairman, FICCI – National Tourism Committee, has suggested measures to battle the financial crunch, including extension of moratorium for a year with minimal interest rate, one-time rescheduling of principal and interest dues of borrowers in hospitality in line with revised estimated cash flows of each project, among others.

FHRAI has requested Minister of Finance and the RBI for an extension of moratorium for an additional 3 months, adding that 90% of the hospitality sector could be declared as NPAs post August 31. In another move, it has requested Ministry of Home Affairs for relaxing of quarantine norms for domestic travellers as well as permission to open bars and banquet halls, among others.