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Banking & Bancassurance

ECGC cuts down its exposure to Gems & Jewellery sector

Geetha Muralidhar,CMD, ECGC said,“Keeping in view the ongoing developments in the sector, when large amount of  bank loans have turned into non-performing assets(NPAs) in the  sector, we have put our own control system in place. Earlier, we used to provide cover 75 per cent of loans. Now, whenever the export amount the sector crosses Rs 600 crore, our  cover comes down to 50 per cent

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