At a time when businesses across the country are suffering due to the restrictions put in place to fight the Coronavirus pandemic, traders and daily wagers who have taken loans are facing a tough time in paying the EMIs. Even though they have written to the CM and the central government as well, asking them for a longer window period to pay the amounts as a complete lockdown would affect their earnings further, there is hardly any respite for them in sight.

In this situation, those who have taken housing, personal and vehicle loans from banks and other financial companies, are facing a tough time, as for them it's difficult to pay even the next EMI. Some of them who have taken insurance for their loans are now asking the companies concerned to claim the amounts from the insurance firms. Speaking to mid-day, Shaikh Imran, who runs a garments business in Malad, said that he had taken a personal loan of '5.81 lakh from a finance company in 2019 and has been paying '17,000 as EMI every month. He had also got the loan insured by paying a one-time fee of '9,000.