Hotel Association of India (HAI) in their letter addressed to Shri Shaktikanta Das, Hon’ble Governor, Reserve Bank of India (RBI) appealed for immediate relief measures for the hospitality industry. They expressed their gratitude to RBI for announcing immediate term to avoid the crisis by allowing relief on loan moratorium on interest and principal repayment for a period three months and later extended to six months.
J K Mohanty, Chairman – Hotel & Restaurant Association of Odisha
stated, “This will no doubt help the hotel industry to survive on short term basis. The Hotel Association of India lead by our President Sri Puneet Chhatwal and the leading hoteliers of India have also appealed to your esteemed office for more relief measures for the survival, revival and thrival of the hotel industry. Only a decision by the Reserve Bank of India can help at this critical junction. Without the help of Reserve Bank of India the hotel industry in the country will collapse.”
“We, therefore, request the Reserve Bank of India to extend the moratorium period upto March 2021 and exempt us from payment of interest during this period as it is not possible to pay interest without earning. The Govt. of India has called for the lockdown and we have obediently carried out the lockdown in the interest of the people of the country,” added Mohanty.
Mohanty concluded, “We hope your esteemed-self will understand the agony of the people of the industry who have not got salary since April 2020 and perhaps will not get salary till April 2021. We are sure the gravity of the situation will be examined sympathetically by the Govt. and the Reserve Bank of India for survival of the hotel industry.”