Bijayanand Pattanayak is a career banker with 38 years of experience in Public, Foreign and Private Sector Banks

State Bank of India is pushing for bringing about uniformity in its lending practices to the gems and jewellery sector

While Indian refiners supplied the bulk of the gold into the market, supply from this source grew only 2 per cent year-on-year as supply from refiners is nearing saturation point

GJC wants the bankers not to treat the gems and jewellery companies as a sector but take up the loan applications on case to case basis

SBI’s total exposure to the gem and jewellery sector was Rs 12,408 crore as of March 2019, out of which Rs 797.59 crore loans were classified as NPAs

Relaxtion of credit flow and expected high sales for Mother's Day has helped Indian exporters breathe easy and anticipate higher growth  

It is alleged that Choksi and Modi got Letters of Undertakings (LoUs) and Foreign Letters of Credit (FLCs) of Rs. 12,636 crore issued in favour of foreign branches of Indian banks based on fraudulent claims. The accused officials of PNB did not enter the instructions for these LoUs and in their internal software to avoid scrutiny.

The GJEPC, the apex council for the gems & jewellery industry releases a statement on PNB fraud; whille expressing its faith in the Indian banking system, the statement also places onus on the banking system for having neglected an irregularity of this magnitude for such a long period. 

Day 1 of country-wide strike of jewellers is going on peacefully.

GJF has urged the Government to remove pan card requirement in jewellery sector and maintain status-quo on application of TCS on sales of bullion on Rs. 2 lakh and on Rs. 5 lakh of jewellery.

The latest collection is simple, stylish and contemporary, perfect fit for everyday wear.

It is a conglomeration of many shapes and multi coloured stones

Petra Consortium had purchased the mine for $150 million

Expect 25% demand spurt; launch gold coins and bars