Surat diamond companies financial strength evaluate by banks

Diamond companies in India, Antwerp and Dubai receive $15 billion worth of finance per annum.

Leading private and public sector banks have started to visit the Surat diamond hub to evaluate the financial strength of diamond companies that were using large facilities.

After the closure of Antwerp Diamond Bank and the Standard Chartered Bank cutting exposure to the diamond industry alarm bells are ringing in the Indian banking sector.

Bank officials from Mumbai visited diamond companies in Katargam and Varachha, and conducted meetings with their owners on diamond prices and demand of diamonds from the US and China.

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