Gems and jewellery industry should have insurance cover for banks to lend courageously: SBI

摘要

The State Bank of India (SBI) said on Saturday that the gems and jewellery industry should have insurance cover for banks to “lend courageously” to the sector. He said the presence of an insurance cover will also lower capital requirement of the industry for jewellery exports. “Absence of an insurance cover is hurting lending to the gems and jewellery industry by banks. If there is an insurance cover, it will help the bank to lend courageously to the sector,” SBI Deputy Managing Director (clients group-I) P N Prasad said here.