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

Jewellers are moving slower on their store expansion plans as securing bank credit has become tougher for the industry post PNB scam. Even the exports were affected last fiscal. However, the industry thinks that banks will take a positive outlook for the industry in FY20

Jewellers are facing challenges in availing funds from banks following the PNB fraud case in which diamond traders Nirav Modi and his uncle Mehul Choksi are allegedly involved, a top industry official said.