The three months moratorium on payment of instalment on term loans and the deferment of interest on working capital facilities is a blessing in this hour of crisis, said Raja M Shanmugam, President, Tirupur Exporters’ Association.
Thanking the RBI Governor for considering the requisition of the association, he lauded the measure like deferment not be classified as NPA. “We hope to hear announcements about more such measures soon to reenergise the knitwear sector” he said.