Bailout task force pays special attention to diamond polishers

State Level Bankers’ Committee (SLBC),which was given the job of coordinating with other banks and financial institutions as well as various departments of the state government,has said the report has laid emphasis on the human aspect of the diamond industry. Specific attention has been paid to diamond polishers,along with diamond units.

SLBC convener,Dena Bank general manager M K Jain said,the details could not be divulged at this point as it was delivered in a sealed cover to the RBI. He said Dr Subbarao is expected to make its contents public and announce the relief measures.

The relief package will be on the lines of the RBI guidelines issued on February 27 for salvaging poultry units in West Bengal. The measures included grant of interest subversion by four per cent per annum to individuals,companies and co-operatives among others,on outstanding non-overdue loans as on a specified date. Interest subversion for poultry units was on term loans and also working capital loans.

Issues involving diamond units with processing and polishing facility in Surat but with registered offices and bank accounts in Mumbai,were also taken up.