PC Jeweller Ltd has reduced bank loans by more than half to about Rs 1,800 crore this fiscal year and aims to become debt-free by March next year on better sales and fundraise, its MD Balram Garg said. PC Jeweller, which sells gold and silver jewellery, has 55 showrooms across 15 states. In September, Delhi-based PC Jeweller executed a settlement agreement with a consortium of 14 banks led by SBI to clear its outstanding loan, which stood at nearly Rs 4,100 crore as on March 31, 3024. "Our bank loans is expected to come down to Rs 1,775 crore at the end of the current fiscal.