Diamantaires in the world’s largest diamond cutting and polishing centre in Surat are staring at tough days ahead. Following the multi-crore bank scam by Nirav Modi and Mehul Choksi, public sector banks have started issuing official orders to their respective branches to not issue fresh letters of undertaking (LoU) and letters of comfort (LoC) to their customers.
Diamantaires in the world’s largest diamond cutting and polishing centre in Surat are staring at tough days ahead. Following the multi-crore bank scam by Nirav Modi and Mehul Choksi, public sector banks have started issuing official orders to their respective branches to not issue fresh letters of undertaking (LoU) and letters of comfort (LoC) to their customers.
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