Distressed environment: Kashmir startups facing money crunch Archives

State government’s hindrance to declare Kashmir as ‘riot affected/ disturbed area’ as per RBI’s Reserve Bank of India guidelines to qualify stressed loan accounts for rescheduling has resulted in start-ups, entrepreneurs, businessmen and transporters to face the brunt of financial crunch. Thousands of unrest hit start-ups in Kashmir are in an immediate need of capital for resumption of business activities following five-month long shutdown in Kashmir that halted the commercial activities. While at the same time businessmen and transporters are finding difficult to repay EMIs due to prevailing situation which…