Mumbai Beat

Poor sale of Customs diamonds The sale of diamonds in public auction by the Customs has failed to reach even Rs 10 crore on the second day o...

Poor sale of Customs diamonds

The sale of diamonds in public auction by the Customs has failed to reach even Rs 10 crore on the second day on Wednesday.

On Tuesday, the first day of the second auction, including revalued diamonds, only Rs 4.04 crore worth diamonds were sold, according to Additional Commissioner T H K Ghauri. The figures for Wednesday were not available as the auction was on till late in the evening. Wednesday’s sales are likely to take the amount to about Rs eight crore, nearly a fourth of the Rs 30 crore worth diamonds and other precious stones put up for auction. The major reasons seem to be the general lack of liquidity and a slack market.

New valuation format for engg

The University of Mumbai announced introduced of an improved format of the evaluation system in engineering examination effective from current academic year.

The Vice Chancellor disclosed that oral examination will be supervised by internal and external assessors together, each for abatch of not over 30 candidates in a single day. There will be university-appointed observers to oversee both oral examinations and practicals.