 Early Times Report
JAMMU, May 13: The Indian Chamber of Commerce (ICC), Jammu Chapter, under the leadership of its Chairman Mr. Rahul Sahai, submitted a detailed representation to the Reserve Bank of India during the 70th Empowered Committee Meeting held at Jammu, highlighting important concerns and recommendations for strengthening the MSME sector in Jammu & Kashmir.
Addressing the representation to Sh. Chander Shekhar Azad, Regional Director, Reserve Bank of India, Jammu, Kashmir & Ladakh, Mr. Rahul Sahai appreciated RBI's continued engagement with industry stakeholders and its proactive approach towards addressing MSME concerns.
The meeting was attended by Madam Vibha, General Manager, RBI J&K and Ladakh, senior RBI officials, representatives of various industry associations, officials from the Directorate of Industries Jammu, MSME Department Jammu, SICOP, and heads of leading banks operating in the region.
Sahai stated that the suggestions submitted by ICC Jammu are aligned with the seven appeals made by Hon'ble Prime Minister of India Sh. Narendra Modi Ji on 12th May 2026, including promoting work-from-home wherever feasible, encouraging Swadeshi, reducing fuel consumption, and promoting natural farming.
The representation highlighted key issues including strengthening implementation of the Trade Receivables Discounting System (TReDS), promotion of solar energy adoption among MSMEs through concessional financing, CIBIL awareness and financial literacy initiatives, and the urgent need for early announcement of the new Industrial Incentive Policy for Jammu & Kashmir.
ICC Jammu also recommended dedicated financial support for natural farming, agri-based enterprises, and the public transport sector, including promotion of electric vehicles and modernization of commercial transport.
Further, the Chamber urged simplification of MSME loan procedures, reduction in collateral requirements, flexible working capital assessments, stronger grievance redressal mechanisms, branch-level empowerment for quicker decisions, and enhanced digital banking and cybersecurity awareness for small businesses.
Rahul Sahai reiterated that ICC Jammu remains committed to working closely with RBI, Government agencies, and financial institutions for the holistic development of industry and trade in Jammu & Kashmir. |
