The All India Gem and Jewellery Domestic Council (GJC) has urged the Finance Minister (FM) and the Reserve Bank of India (RBI) to provide immediate financial assistance and banking related relief for the stressed gem and jewellery sector and allied businesses.
In a letter, the GJC cited the K.V. Kamath Committee report which had included the gem and jewellery sector among ‘stressed industries’. Since several jewellers affected by the spate of lockdowns were finding it difficult to repay loans, the GJC sought extension of the moratorium on interest payments for a period of six months.
