Tiruppur MP K. Subbrarayan has sought District Collector K. Vijayakarthikeyan intervention into the alleged pressurisation by financial companies to pay instalments for loans amid COVID-19 lockdown.
In the letter to the Collector on Wednesday, he claimed that many financial companies in Tiruppur are asking customers to pay the instalments through phone calls and text messages, despite the Central government’s guidelines to grant a moratorium of three months on payment of all instalments falling due between March 1 and May 31.
Mr. Subbarayan alleged that such practices will cause mental distress to customers during the ongoing lockdown. The MP further alleged in his letter that these companies transfer the cash from the customers’ accounts, including the COVID-19 cash assistance provided by the State government.
