Jewelers seek extension of moratorium

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The All India Gem and Jewelery 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 jewelery sector and allied businesses.

In a letter, the GJC cited the KV Kamath Committee report which had included the gem and jewelry sector among ‘stressed industries’. Since several jewelers affected by the spat 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.

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