Coronavirus In Mumbai: Nearing EMI dates, uncertainty over salaries, shortage of cash worrying citizens

Coronavirus In Mumbai: Nearing EMI dates, uncertainty over salaries, shortage of cash worrying citizens

Narsi BenwalUpdated: Friday, March 27, 2020, 01:02 AM IST
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Mumbai: Compelled to be indoors for 21 days, the complete lockdown and sudden increase in prices of essentials is certainly affecting the pockets of citizens. These apart, the uncertainty on whether they would be paid salaries has become another reason for anxiety as people are running out of cash, both in hand and in bank accounts.

Citizens are running out of cash as this is the last week of the month and there is a sudden rise in their expenses.

Most citizens are also tense as they are about to enter a new month and their dates to pay loan EMIs (equated monthly installments) are nearing but they have less bank balance to make the payments.

Notably, several leaders such as Ashok Chavan of Congress, have written to union finance minister Nirmala Sitharaman and urged to relax the EMI dates at least till the situation is controlled.

"I have to pay at least Rs 2 lakh as EMI on the second of every month. It would be my third installment in April," said a businessman, who recently availed a loan to start his business.

"But owing to the coronavirus issue, I have not been able to carry out my business properly in this month (March) and thus have not earned the usual amount. I am scared because April 2 is nearing and I do not have the required amount yet," he added.

A similar situation is being dealt by Ajay Jha, who lives in Ulwe along with his family. "The beginning of March was almost normal and there were no signs that there will be a complete lockdown. Thus, I spent my entire salary as usual. If I had any idea that something like this would happen, I would have cut down some expenses and saved money," he said.

Ajay, who supervises a team of housekeepers at a five-star hotel in the city, said he now has only little money. "There are almost 20 more days left and I will not be in a position to resume work or go to my employer and ask for the salary. I have no idea how my family would sustain amid this curfew," he added.

Asha Patil, a sweeper from Chembur, is now at home, adhering to the government directive. However, she has to bear the brunt, she claims. "My ration is about to finish for this month. I am unable to purchase fresh stock as I have no money at home. I am confused as to what I and my three children are going to eat for the next 20 days, as the society, where I work has asked me not to resume till all this ends," she said.

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