Sahai submits memorandum to Regional Director RBI JK&L in 66th Empowered Committee Meeting

The Indian Chamber of Commerce (ICC) Jammu, under the leadership of its Chairman Rahul Sahai, submitted a detailed memorandum to Chander Shekhar Azad, Regional Director, Reserve Bank of India (RBI), Jammu Kashmir & Ladakh, during the 66th Empowered Committee Meeting.

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The memorandum highlighted the pressing economic and sectoral concerns faced by MSMEs in the Union Territory in light of the recent war-like situation. The representation applauded the courage of the Armed Forces and the leadership of the Prime Minister of India for standing strong in difficult times. However, it emphasised that the ongoing uncertainty and threat of recurrence have deeply shaken the MSME sector and the broader business community across Jammu and Kashmir.

The fallout includes widespread damage to homes in border areas, business closures, grounding of flights and trains, exodus of labour, a collapse of the tourism industry, and an alarming decline in business activity and income.