Business Desk, Amar Ujala, New Delhi
Updated Thu, 01 Oct 2020 01:01 AM IST
Decreased earnings during the Corona period
– Photo: pixabay
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- Survey revealed by Paisabazaar, 16 percent of people income completely stalled
- 16 percent of the people came to a complete standstill
Able to repay EMI on income affected
66% of city people Chennai
Hyderabad 55 percent
Bangalore 49 percent
Mumbai 48 percent
56 percent chose Moratorium
According to the survey, 56 percent of the respondents opted for the Moratorium to pay the loan / credit card bill. Of these 23 per cent people are those whose lockdown has no effect on their income. 53% opted for this option in case of employed, while 68% of self-employed people availed this facility. At the same time, 44 percent of the respondents did not avail of the Moratorium. Of these 22 per cent are those whose earnings were completely lost due to lockdown.
Want more than half of debt restructuring
55 per cent of the respondents in the survey said that they wanted to approach their bank / NBFC for loan restructuring. There are also people who have not had any effect on their earnings. Of those who have already taken advantage of the Moratorium, 70 per cent want to restructure their debt.
It will take time to reach the level before Corona
Naveen Kukreja, CEO and co-founder of Paisabazaar, says that the Corona effect had started showing in the country since March. However, in the last few months, many areas have started showing improvement. Despite this, it will take a long time to reach the position before Corona. He said, if the economy continues to improve and people’s earnings increase, it may take 7-9 months to reach the pre-corona level of debt supply.