The Coimbatore Jewellery Manufacturers Association has requested a tax refund from the Union government for taxes paid on gold metal loans before the recent reduction in Customs Duty

IFSCA Chairman urges establishment of gold refining facilities in India, emphasizing its significance as a leading global buyer of the precious metal

GJEPC organised the Summit as an initiative to promote better banking and business practices

Webinar highlighted YES Bank’s products for Gold Metal Loan, Working Capital and Trade Finance

The RBI on June 23 has asked banks to provide an option to jewellery exporters and domestic manufacturers of gold jewellery to repay a part of Gold (Metal) Loans (GML) in physical gold
 

Under the revamped Gold Monetising Scheme (GMS) which was first introduced in 2015, consumers can deposit as little as 10 g (from previous minimum of 30g). This will aid in lowering the industry’s dependence on imported gold and will foster a better relationship between jewellers and customers

In a first of its kind collaboration, Yes Bank has signed an MoU with GJEPC to support the gem and jewellery industry

GJEPC put forth its suggestions to modify few points within the Revamped – Gold Deposit Scheme (R-GDS)  that will enable its larger acceptance and garner additional deposits of idle gold within the country

Jewellers have begun melting newer ornaments to reduce inventory 

GJC members to support PM’s clarion call for Janata Curfew on 22 March and seek relief for the virus-hit Gems and Jewellery industry 

The Year That Was

The summit held discussions on topics ranging from bullion banking, finance crunch, technology to innovation

The collection is festooned with a plethora of diamonds and gemstones with vivacious summer shades.

But restrictions on banks selling gold coins and medallions have not eased