Godrej & Boyce announced that Godrej Security Solutions (GSS), in partnership with ICICI Bank, has launched a financial assistance program for the jeweller’s community. The program will encourage them to invest in new-age security solutions for their store.

The credit facility enables jewellery store owners to invest in torch and tool-resistant safes that safeguard their assets including precious jewellery, cash, and documents. While torch and tool resistant safes are a monetary heavy investment, prospective jewellers can approach any GSS channel partner for the purchase of safes at an easy EMI and avoid a one-time heavy investment. Established jewelers can avail the facility through the local channel partners or sales team of Godrej Security Solution. The rate of interest for this credit facility is 16 per cent per annum with a low processing fee of 1.5 per cent. The loan amount starts at a minimum of Rs 1 lakh and can go to a maximum of Rs 10 lakh.

"The gems and jewellery sector is one of the largest revenue-generating sectors of India and is most vulnerable to external threats like robberies and heists. We understand that upgrading security systems would call for a capex which in these challenging times would be a difficult proposition. Yet it is indeed critical as the rising gold prices would result in the rise in the value of jewellery to be stored safely,” said Pushkar Gokhale, Vice President, Godrej Security Solutions.