Banks to Tighten Diamond Loans
With the Winsome group (erstwhile SuRaj Diamonds) defaulting on its loan, gems and jewellery companies might face hurdles in securing loans, as banks might now seek more collateral, as well as higher margins.
Senior bankers said the loantovalue ratio might be made more stringent. For instance, if loan credit was given up to 60 per cent of the value of collateral earlier, now it would be for only 50 per cent.
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