Chennai, Apr 13 (IANS): The RBI and the Central government should allow small housing/non-banking finance companies to function for a limited period or with limited staff so that the three month loan moratorium could be worked out for the benefit of borrowers, a top official of National Trust Housing Finance Ltd said on Monday.

"Customers of companies like ours would not be technology savvy nor would have internet connectivity. The Reserve Bank of India and the Central government should allow companies like us to operate with limited staff or for couple of days so that the loan moratorium announced by the central bank could be worked out," Managing Director Alok Aggarwal told IANS.

According to him, there is a lot of confusion in respect of moratorium and company staff have to reach out to the customers over phone for taking necessary action.

"Customers of many housing/non-banking finance companies are not able to tell their banks to stop deduction of equated monthly instalments," Aggarwal added.

On the impact of lockdown on business, he said fresh business will be impacted and self-employed professionals will take one/two months time to attain their full earning potential after the lockdown is lifted.

On non-performing assets (NPAs), he said: "There may be a short term spike in NPA after the lifting of lockdown."

According to him, all the 200 employees of the Rs.300 crore loan book size company have been paid the March salaries in full and April salaries will also be paid soon.

"We are talking with our landlords to take a rent cut as no business was done during the lockdown," Aggarwal said.