Jammu, Aug 18: Rahul Sahai, Chair of the PHD Chamber of Commerce & Industry (PHDCCI) Jammu, on Sunday expressed gratitude to Chandra Shekhar Azad, Regional Director, RBI J&K and Ladakh, during the 63rd Empowered Committee meeting held in Jammu. Sahai presented key suggestions, recommendations and issues impacting the trade and industry sectors in Jammu.
Sahai, according to a PHDCCI press release issued here highlighted the Chamber’s efforts in bridging the gap between the government and entrepreneurs through programmes on critical topics like TReDS, Udyam registrations, and CGTMSE. However, he said several challenges continue to hinder trade and industry in the region.
The PHDCCI Chairman said that many enterprises are struggling to secure loans due to slightly unstable CIBIL scores. He urged that decisions should be based on the actual ground realities, allowing for some calculated risk, as entities in genuine need of financial support are often overlooked.
Rahul welcomed the union budget’s introduction of a new MSME assessment model, enabling banks to evaluate MSME businesses based on their digital footprint. He sought clarification on how banks plan to implement this model and emphasized its potential to assist businesses in financial difficulty.
Sahai said the recent budget introduced measures to ensure continued bank credit for MSMEs during tough times. He stressed the need for operational clarity on this initiative to prevent small business closures.
The PHDCCI Chairman appealed to banks to consider funding drug de-addiction centres in Jammu, such as the one in Sunjwan run by JK Police, under their CSR initiatives, to address the pressing social issue of drug abuse.
He suggested that RBI recommend the inclusion of government and semi-government departments on TReDS platforms to allow enterprises access to bill discounting facilities for payments due from these bodies. He also welcomed the reduction of the turnover threshold for mandatory onboarding on TReDS from Rs 500 crore to Rs 250 crore, urging banks to ensure compliance.
Sahai requested updates from SIDBI regarding the establishment of new branches in MSME clusters, as announced in the budget, which would enhance direct credit support for MSMEs.
He applauded the introduction of a credit guarantee scheme for MSMEs involved in manufacturing and the increase in the Mudra loan limit from Rs 10 lakh to Rs 20 lakh, for those with timely repayment histories.
Rahul highlighted new opportunities outlined in the budget, such as financial support for irradiation units, NABH-accredited food quality testing labs, and the creation of e-commerce export hubs to assist traditional artisans in accessing global markets. He encouraged banks to explore these areas.
He thanked the RBI Regional Director for his attention to these critical issues and looked forward to continued support in addressing the challenges faced by the trade and industry sectors in Jammu.
