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Banks face more headache from diamond industry
Rediff.com

Banks face more headache from diamond industry

The problem is actually acute in the diamond jewellery industry where there is no uniform criteria of inventory valuation unlike gold, whose prices are uniform and widely quoted.  Punjab National Bank’s financial trouble with the Nirav Modi jewellery firm could be the beginning of banks’ trouble with the industry. The finances of the listed diamond jewellery companies suggest the industry is in deep financial trouble with no immediate respite in site.  The ... Rediff.com, 2 months ago
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