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As loans become scarce, jewellers face working capital crunch

As loans become scarce, jewellers face working capital crunch
Banks have become more vigilant over the past two weeks, with many more officials involved in loan approval and disbursal. Jewellery manufacturers and retailers have started facing a working capital squeeze, due to intensified scrutiny of the sector from banks, with multiple numbers of officials needed now to sanction loans.   This follows the Rs 12,700-crore Punjab National Bank scam, involving Nirav Modi and Nehul Choksi’s Gitanjali Gems. The new caution on loan disbursal apart, ...
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