Gems And Jewellery Industry

Gems And Jewellery Industry News

Gems, jewellery exports may decline 5-10% this year; US-China trade war, protests in Hong Kong to impact sales: GJEPC
Business

Gems, jewellery exports may decline 5-10% this year; US-China trade war, protests in Hong Kong to impact sales: GJEPC

In September, the overall gems and jewellery exports dipped by 7.43% to Rs 23,788.01 crore during September 2019

PNB scam : Jewellers find availing funds from banks a challenge after Nirav Modi, Mehul Choksi fraud
Business

PNB scam : Jewellers find availing funds from banks a challenge after Nirav Modi, Mehul Choksi fraud

Nirav Modi and Choksi are being investigated by the Enforcement Directorate (ED) for allegedly cheating Punjab National Bank (PNB), the country's second largest lender, to the tune of more than $2 billion or over Rs 13,000 crore.

Gold imports shrink 40% to $2.49 bn in March; silver imports grow 31%
Business

Gold imports shrink 40% to $2.49 bn in March; silver imports grow 31%

India's gold imports fell 40.31 percent to $2.49 billion in March, which is expected to keep a lid on the current account deficit (CAD)

As more frauds surface, RBI issues strictures to auditors of PSBs to keep closer watch on banks
Business

As more frauds surface, RBI issues strictures to auditors of PSBs to keep closer watch on banks

It has been reported that the companies falsify the figures on cash flow projections in order to get new loans from banks.

Another banking fraud? SBI charges Chennai-based Kanishk Gold of duping 14 banks to the tune of Rs 1,000 cr: Report
Business

Another banking fraud? SBI charges Chennai-based Kanishk Gold of duping 14 banks to the tune of Rs 1,000 cr: Report

Chennai-based Kanish Gold has a registered office in T Nagar in and is owned by promoters and directors Bhoopesh Kumar Jain and his wife Neeta Jain, says report

Nirav Modi-PNB scam: RBI sets up committee to pre-empt and prevent such scam in future; five things to know
India

Nirav Modi-PNB scam: RBI sets up committee to pre-empt and prevent such scam in future; five things to know

the ‘Expert Committee’ will be headed by Y H Malegam, former member of the central board of directors of RBI

Nirav Modi vs Vijay Mallya: Tales of two scamsters who used unlawful and legit tactics to swindle public money
India

Nirav Modi vs Vijay Mallya: Tales of two scamsters who used unlawful and legit tactics to swindle public money

Nirav Modi hoodwinked bankers with greater brazenness, by gaming banking system, to commit Punjab National Bank scam

PNB fraud: ED probe finds Nirav Modi, his brother Neeshal and Mehul Choksi were partners in 100 companies
India

PNB fraud: ED probe finds Nirav Modi, his brother Neeshal and Mehul Choksi were partners in 100 companies

Before the PNB scam came to light, Both Modi and Choksi, along with other family members, said to have left the country in early January.

'What are our auditors doing?': Asks Arun Jaitley as he breaks his silence on Rs 11,400 cr Punjab National Bank fraud
Business

'What are our auditors doing?': Asks Arun Jaitley as he breaks his silence on Rs 11,400 cr Punjab National Bank fraud

The finance minister said an example should be made of the fraudulent people involved in the Punjab National Bank scam

Gold consignments from South Korea to face strict customs scrutiny
Business

Gold consignments from South Korea to face strict customs scrutiny

The Customs authorities have decided to examine thoroughly the consignments of gold coming from South Korea to ensure that there is no violation of provisions of free trade agreement

India's gold imports surge 3-fold to US $4.95 bn in May
Business

India's gold imports surge 3-fold to US $4.95 bn in May

Surge in the imports last month contributed to the widening of trade deficit to a 30-month high of US $13.84 billion as against US $6.27 billion in May 2016

Gold imports record three-fold jump to $3.85 bn; Akshaya Tritiya boosts demand
Business

Gold imports record three-fold jump to $3.85 bn; Akshaya Tritiya boosts demand

India is the world's second biggest gold consumer after China. The imports mainly take care of demand by the jewellery industry.