{"id":8910,"date":"2021-05-28T17:06:53","date_gmt":"2021-05-28T11:36:53","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=8910"},"modified":"2021-05-28T17:06:55","modified_gmt":"2021-05-28T11:36:55","slug":"gjepc-webinar-seeks-bankers-perspective-on-gj-industry-financing","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/gjepc-webinar-seeks-bankers-perspective-on-gj-industry-financing\/","title":{"rendered":"GJEPC Webinar Seeks Bankers\u2019 Perspective On G&#038;J Industry Financing"},"content":{"rendered":"\n<p>GJEPC held a webinar on 27th May with the aim of understanding the perspective of bankers who finance the gem and jewellery sector. The panellists included Ranvir Singh, DGM and Branch Head, SBI, Diamond Branch, Mumbai and Narayan Singh Deora, Zonal Manager, Bank of India, who were joined by Manish Jivani, MSME Convener, GJEPC. The discussion was moderated by Mayank Bajaj, Director, Bajaj Advisors.<\/p>\n\n\n\n<p><em>Below are some key takeaways from the discussion:<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Transparency is of prime importance; the banker should be treated like a partner and must be kept informed of all stress points in the business.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>There has been a 13% growth in bank credit in the last 6 months from $7.57 billion in September 2020 to $8.57 billion in March 2021. Industry performance is directly proportional to bank credit. In March 2021, gross bank credit amounted to 34% of total industry export turnover of $25.29 billion.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>For bankers, collateral is a secondary consideration, the first priority is a strong balance sheet and a healthy business.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>LGDs\u2019 financial potential is the same as natural diamonds. Although the base is small, it is growing at 100%. For bank finance, LGD rules and modalities should be defined clearly. GJEPC is ready to sit with bankers and set up a module to tap the sector\u2019s potential in terms of generating jobs and earning foreign revenue.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>The trade is in a good position today mainly due to the support of banks. For instance, BOI has not reduced any corporate limit in the past one year, and SBI has no intention to reduce exposure to the sector.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>Companies need to hire capable, experienced, knowledgeable professionals to handle their finance department as the requirements have risen in the past few years.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>GJEPC held a webinar on 27th May with the aim of understanding the perspective of bankers who finance the gem and jewellery sector. The panellists included Ranvir Singh, DGM and Branch Head, SBI, Diamond Branch, Mumbai and Narayan Singh Deora, Zonal Manager, Bank of India, who were joined by Manish Jivani, MSME Convener, GJEPC. The&hellip;<\/p>\n","protected":false},"author":1,"featured_media":8911,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-8910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>GJEPC Webinar Seeks Bankers\u2019 Perspective On G&amp;J Industry Financing - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/gjepc-webinar-seeks-bankers-perspective-on-gj-industry-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GJEPC Webinar Seeks Bankers\u2019 Perspective On G&amp;J Industry Financing - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"GJEPC held a webinar on 27th May with the aim of understanding the perspective of bankers who finance the gem and jewellery sector. The panellists included Ranvir Singh, DGM and Branch Head, SBI, Diamond Branch, Mumbai and Narayan Singh Deora, Zonal Manager, Bank of India, who were joined by Manish Jivani, MSME Convener, GJEPC. 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