Nirav Modi scam fallout: Gems and jewellery industry asks bankers not to reduce credit limits in a white paper
• 7 years agoGems and jewellery industry is presenting a white paper on 11 May on challenges of financing to the diamond industry
RBI's Letters of Undertaking ban not to impact Bengal jewellery industry
• 7 years agoRBI ban on Letter of Undertaking (LoU) as a trade finance instrument, will not have much impact on the gems and jewellery industry in West Bengal, but a hike in bank's credit margin may hurt the business, a GJEPC official said
India's gold imports to be over 700 tonnes in current fiscal, up 40%, says industry body
• 7 years agoGJEPC chairman demanded that the import duty on gold be brought down to 4-5 percent in the Budget, asserting that the prevailing 10 percent import duty on the yellow metal gives rise to smuggling
Govt bans export of gold items above 22-carat purity
• 8 years agoThe decision came at a time when Indian gold jewellery traders have raised concerns over a surge in gold imports from South Korea