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GJEPC asks banks to adopt its KYC databank to finance diamond trade

Mumbai: Gem & Jewellery Export Promotion Council (GJEPC), a nodal trade body sponsored by the commerce ministry, is pursuing banks to adopt its online know your-customer databank of 2,500 exporters as a means to mitigate risk and improve lenders’ perception of the trade rocked by the Rs 13,600-crore Nirav Modi-Mehul Choksi PNB scam. The matter came up at a recent meeting of t…
Banking Industry News

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