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Former Sebi chairman U K Sinha on Thursday cautioned the alternatives sector about the growth in private credit, reminding that the lending is being made to a set of borrowers who are deemed to be unfit by banks. Sinha, who demitted Sebi office in 2017 after an over six-year stint at the helm, said there is also a need to increase the support given by the venture capital funds to the growing startup ecosystem, underscoring that an economy like ours requires the support. Making it clear that he has nothing against private credit, Sinha said he would like to advice some caution given the "rush" towards it. "Whom are you (the industry) providing the private credit? You are providing it to people who have for some reason not been able to get the bank credit, who for some reason have been found not to be fit, to be worthy of the bank credit," Sinha said, addressing a CII event on Alternative Investment Funds here. The career bureaucrat-turned-regulator who is now involved with the ...
India's gems and jewellery exports grew 19.64 per cent to USD 2.5 billion in November compared to the same month last year, according to the Gem and Jewellery Export Promotion Council (GJEPC). Total exports stood at USD 2.1 billion during the corresponding month of the previous year, according to GJEPC data. The overall exports of gems and jewellery were flat at USD 18.86 billion during April-November period as compared to USD 18.85 billion in the same period of last year. The overall gross export of Cut & Polished diamonds was at USD 919.74 million in November as compared to USD 666.34 million in the same period of the previous year. Provisional gross export of Polished Lab Grown Diamonds witnessed a 10.55 per cent rise in November at USD 76.09 million over USD 68.83 million a year ago. Meanwhile, volatile prices affected gold jewellery exports which were flat at USD 1.21 billion in November against USD 1.23 billion a year ago. Studded gold jewellery shipments surged to USD ...