Report Wire - Retail trade seeks FinMin, RBI intervention over liquidity assist

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Retail trade seeks FinMin, RBI intervention over liquidity assist

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Retail industry seeks FinMin, RBI intervention over liquidity support

Hit by the Covid pandemic and lockdown in states, the retail trade has sought the intervention of the Ministry of Finance and the Reserve Bank of India for liquidity assist, moratorium, curiosity subvention and dealing capital to remain afloat.
As lockdown in states drag on, it’s getting more and more tough for retailers to retain staff and to maintain their companies afloat, trade physique Retailers Association of India stated. Retailers have to pay salaries, minimal electrical energy, leases and property taxes even when the companies are shut because of lockdown. The money influx of the trade has come to a standstill, whereas the mounted working prices stays intact, it stated.
The Retailers Association of India has sought extension of emergency credit score line assure scheme (ECLGS) to the retail sector.