In order to expand our business, we had taken loans from some banks. Till date we were paying the EMIs regularly, but due to the recession payments due to us are not coming in time. Is it possible for the banks to restructure the EMIs or reduce interest?
Rajiv Warrier, Aladdin Multimedia
T G RAMESH — Please approach your banker immediately with a letter of request to revise your loan structure according to your current position and future cash-flow assessment. Many companies have already started doing this in the last quarter, and banks are seriously looking into it since this is one of the initiatives of the government (through the RBI) to stimulate the SMB segment which is deeply affected. |