The Kashmir Chamber of Commerce and Industry (KCC&I) on Wednesday participated in the 70th meeting of the Empowered Committee on MSMEs for J&K and Ladakh in Jammu, strongly advocating for easier credit access, collateral-free loans and greater awareness of RBI-backed digital financing platforms.
Represented by Junior Vice President Farooq Amin, the Chamber flagged low awareness of the Trade Receivables Discounting System (TReDS), poor disbursement under the CGTMSE scheme, high rejection rates under PM SVANidhi, PM Mudra Yojana and PM Vishwakarma Yojana, and rigid banking practices that hurt stressed MSME accounts.
RBI Regional Director Chandrashekhar Azad directed banks to intensify awareness around Udyam Registration and involve KCC&I in outreach campaigns. He also advised banks to engage more actively with the Chamber in resolving collateral and financing bottlenecks.
KCC&I urged a pragmatic approach towards distressed businesses, particularly in tourism and allied sectors hit by repeated economic setbacks, and demanded inclusion in consultative committees dealing with stressed MSME accounts and NPAs.
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