Monday, March 23, 2020

Banks GST Policy Change and Corona

Date: 23 March 2020


Shri Narender Modi
Hon’ble Prime Minister of India


Respected Sir,

On 22nd March, 2020 both the Central and State Government have decided to completely shutdown 75 districts across the country where the coronavirus cases have been reported. Also, interstate buses are cancelled. Railways and airlines have been cancelled.

Both private and public sector have been advised for work from home. Many offices have already asked their employees to work from home. Many offices have even asked their employees to take leave and go home.

Due to this lockdown and curfew, many employees are not able to even work from home because of slow internet connections for people working on internet, unavailability of resources, etc.

This lockdown and curfew will result into many layoffs and many employees being fired from their work. So, it important that in this situation that government should pass immediate stringent orders and rules that:
i.            No employee will be fired during this coronavirus period, both in private as well as public sector.
ii.          Direct all banks, financial institutions both in public and private sector not to charge interest or penalty for delay in payment of credit card bills, loan EMIs, insurance policies, etc.

iii.        Direct  all insurance companies both public and private not to charge any interest or penalty for delay in payment of all insurance policies

iv.         Direct all insurance companies to clear all insurance claims during this period especially medical insurance

v.           Direct income tax department, GST department, ROC department, customs & Excise department to extent the date of filling of return and not to charge any interest or penalty this year for any delay in payment of the tax and tax return

vi.         Direct all banks and financial institutions not to focus on KYC and not to freeze the accounts of the public just because of non - fulfilment of KYC form

vii.       Direct income tax department to extend the date of making investment for the financial year 2019-20 as majority of the public normally make their investment in the month of March which this year many people have not been able to do

viii.     Direct and encourage banks and financial institutions to give interest free loan to the public this year

ix.         Direct RBI to increase the rate of interest on the saving accounts, PPF, term deposits, etc. on all types of savings so that public is not short of finances

Please pass necessary orders, policies and rules immediately.

Thanking You,

Yours truly,

Dr KK Aggarwal
Padma Shri Awardee
President Confederation of Medical Associations of Asia and Oceania
Past National President Indian Medical Association
National President Heart Care Foundation of India

Copy to:

Shri Ravi Shankar Prasad
Hon’ble Minister of Ministry of Law & Justice
3rd Floor, 'C' Wing, Lok Nayak Bhawan,
Khan Market, New Delhi - 110003.
Phone: 011-24698655

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