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Fallout from alleged diamond-debt fraud continues

Indian central bank to tighten the regulations and ramp up scrutiny over large, dodgy loans handed out by state banks; Indian businesses run on lax credit to also feel the squeeze

London

THE alleged diamond debt fraud in India has severe implications for the global gem and banking businesses.

"We are worried about the ripple effects," a spokesman for the Antwerp World Diamond Centre said.

The main implication is that the Reserve Bank of India (RBI)...

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