As per industry sources, offline handset retailers have sought more relief from the government for the 150,000 mobile stores that had to remain closed during the three-week lock down announced by the government to contain the Covid-19 epidemic.
In its letter to the government, the All India Mobile Retailers Association (AIMRA) has requested the finance ministry to waive off interest on various loans for three months.
As per AIMRA, even though there has been no income during the lockdown period, the salaries of the employees and commercial rents still have to be paid for this period. Therefore, any additional financial burden such as payment of interest on EMIs may lead to bankruptcy for many retailers.
Earlier the government had announced a slew of relief measures for all sectors which included a three-month deferment of EMI payments.