NEW DELHI : Indian malls have urged the Reserve Bank of India's intervention to defer loan repayment demands from banks with many of the establishments pushed to the brink due to the impact of covid-induced lockdown.

Some banks have asked for loan repayments though the RBI announced a three-month loan moratorium. The Shopping Centre Association of India (SCAI), which represents malls including those in smaller towns, have asked the central bank to extend the moratorium on loan repayment to nine months. "Compounding already severe liquidity blow, the Banks are now writing to shopping centre/ mall owners directing them to deposit rental payments even for the month of April in Escrow accounts against Lease Rental Discounting facility availed

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India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

Malls urge RBI action on loans to save industry from collapse

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