FATAL CESSATION

Not that every pause is sensuous.

A few freeze the senses terribly.

A few lead to headaches and rise in pressures.

And this one did the same and continues to do this without a feeling of guilt. After all, that is what it was put in place for.

CoVID has, without doubt, skewed the financial canvas and has put the common man’s balance onto a see saw in a maze and he/she cannot cut the costs or the nerve. Debt burden increased while the source of funds started drying.

 In such a situation, the news of moratorium to the working class and farmers eased their tension and they heaved a sigh of relief, praised the decision and perhaps started diverting their funds with a thought that this announcement will help them to overcome whatever financial burdens CoVID had burdened them with.

 And that was when; the twist to the tale came into picture.

For many who did not know that moratorium meant a shift in the payment of the EMI and not a waiver, it was a time to celebrate the decision.

They did not know that it also meant an accumulation of interest during the period of moratorium as well.

What this means is that if the borrower relaxes on the cot called moratorium he/she will have to wake up to a web of additional charges in the form of higher interest rates (as high as 40% to assume) which will end up creating an additional EMI of sorts and may even add bouncing charges to add spice to the pizza called Moratorium.

Why am I writing this now?

Simple!

To wake you up and pay your dues instead of enjoying the EMI holiday!

EMI Holiday is generally a term used to denote the time gap between the educational loan (an example) taken and starting of the repayment once the student starts earning.

Remember: YOUR HOLIDAY IS AN EARNING FOR THE BANK and AN IRREVERSIBLE BURDEN ON YOU!

Hope so this explains why, educational loans are a huge burden and why they allow EMI HOLIDAY and why MORATORIUM is a Fatal cessation which robs more than it relaxes you!