BankKeeping was honored to be invited by the Gem & Jewellery Export Promotion Council (Eastern Region) for an exclusive awareness session on “How to Increase Profits by Reducing Bank Charges”, held on April 10, 2025. The event brought together distinguished members of the gems and jewellery industry, both offline and virtually, from across India.
Led by Mr. Lalit Chetani, the session shed light on a pressing issue that affects a large number of businesses with banking exposure—unnoticed overcharges by banks. The jewellery industry, known for its high-value transactions and capital-intensive operations, is especially vulnerable to discrepancies in banking terms, hidden fees, and excessive interest costs. Mr. Chetani presented eye-opening facts and real client cases to illustrate how businesses are routinely charged more than they should be, simply because they are unaware of how to monitor and verify banking transactions effectively.
The audience, comprising exporters, wholesalers, and business owners from the jewellery sector, was visibly surprised at many of the insights shared. One key takeaway that resonated strongly was the fact that 90% of borrowers may be unknowingly overcharged—a statistic that sparked curiosity and concern in equal measure.
A key highlight of the session was a practical segment on effective negotiation techniques with banks. Mr. Chetani shared actionable tips and tricks that businesses can use when discussing their loan terms, interest rates, and service charges with banks. From understanding how to benchmark rates correctly, to identifying negotiable terms within loan documents, the session offered tangible value to all attendees. These strategies were especially relevant for the jewellery industry, where loan size and banking relationships significantly impact profitability.
The session ended with a vibrant and interactive discussion. Committee members and attendees raised queries about their existing loans, working capital challenges, and unexplained charges they’ve encountered. Mr. Chetani addressed these concerns with on-the-spot insights and encouraged participants to take a proactive stance in managing their banking relationships.
We extend our heartfelt gratitude to the Gem & Jewellery Export Promotion Council (Eastern Region) for organizing this impactful session and for their continued efforts in promoting financial awareness within the industry. A special vote of thanks to Mr. Pankaj Parekh – Regional Chairman (Eastern Region), Mr. Prakash Pincha – Director of Jewel India Private Limited, Mr. Ketan Doshi – Promoter of Modern Impex, Mr. Pankaj Shah – Director of Concept Images Pvt Ltd, and Mr. Govind M. Sawant – Head – Technical, for their gracious presence, valuable insights, and encouragement throughout the event. We also thank all the dignitaries who joined us in person and online—it was an honor to engage with such an esteemed gathering.
At BankKeeping, our mission is to ensure that businesses are equipped to not only grow, but grow smartly. We look forward to deepening this partnership and supporting more businesses across India in optimizing their bank relationships and securing their financial well-being.