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Release on one-day workshop on Gold jewellery appraising
Kemmannu News Network, 28-01-2011 11:32:47
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Print MANIPAL, Jan, 28: Give gold loans is not as easy as they appear to be. There are pitfalls which every banker has to be very careful about. That and many other aspects of appraising gold was discussed at the one-day workshop organized by Manipal institute of Jewellery Management at the TMA Pai Planetarium here on Friday. More than 50 candidates from various national and private banks and co-operative societies participated in the workshop.
Chief guest Santosh Kamath, General Manager of Syndicate Bank discussed the challenges being faced by the Banking industry while advancing gold loans. Narrating a few cases of fraud from his long experience as a Vigilance officer, he adviced the bankers on several precautionary measures to be taken while advancing gold loans.
“Having a good appraiser who is honest, knowledgeable and one who knows how to use the latest technology in appraising is an asset for a bank,” Mr Kamath said. Banks are being cheated of crores of rupees and that need to be checked, he added. He even said an institute like MIJM could up with a solution to the problem.
The function was inaugurated by Dr. K. Ramnarayan, Vice Chancellor, Manipal University. He appreciated the efforts being taken by the institute in organizing such unique workshops which would be very helpful not only to the industry but also to the community in general.
Prof.(Col) M. Madhava Shanbhag, Director, MIJM welcomed the guests and explained the significance of the workshop to the bankers in the present contest. He cautioned the bankers against advancing gold loans without taking proper precautions as the chances of their getting cheated are high with increased in gold price.
All aspects of jewellery appraisal both of gold and gemstones were covered during this workshop taking theory as well as practical demonstrations by experts in the field.
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