Theory:

     "It is all your doing you brought and threw it here and tempted her," said the female bird.
 
     The male bird answered gravely, "Did I tell her to steal the thing? This is bound to happen when human are being greedy.”
 
     "Rightly said, we should never be greedy for what belongs to others". "Come, let us go now and bring some worms for the young ones.” And the two flew out.
 
     Ramayya and his wife spend the rest of their life in fear of being caught. The diamond Nose Jewel may still be with them, but the fear of getting caught was even more.
Explanation:
 
The she-sparrow cited her husband for being the reason for the sufferings of Ramayya and his wife. She said that the he-sparrow tempted Ramayya's wife by throwing the diamond on their floor. If the bird hadn't dropped the stud, the wife would neither have picked it up nor would the couple be in that state.

The male sparrow responded thoughtfully. The sparrow defended himself by saying that he didn't ask Ramayya's wife to steal. She was suffering not because that the male-sparrow had dropped the jewel, but rather because of her greed, said the male sparrow.
 
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Sparrows in a conversation

The female sparrow understood the words of wisdom. She agreed that her husband was right and said that one should never be greedy. People should not have desires for things that did not belong to them. The female bird then suggested that they should go out and look for food for the young ones. Soon, they flew off.

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The birds flew off

The story ends with the narrator concluding how Ramayya and his wife spend the rest of their lives. Though they were never caught, they lived in fear of being caught. Even though the diamond Nose- Jewel was still with them, they were worried that they would be discovered and lose their respect in front of society. Moreover, the fear had probably prevented Ramayya's wife from wearing the stud. Hence, the fear of getting caught was several times more than the happiness that the stud had delivered.

Therefore, the greedy was punished sufficiently.
 
Meanings of difficult words:
 
S.No
Words
Meanings
1
TemptTo make someone want to have or do something, especially something that is unnecessary or wrong
2
GravelyIn a grave or serious manner
3
GreedyHaving a strong and impure desire for wealth, especially when it is more than what one need
Reference:
State Council of Educational Research and Training (2019). Term-3 English Standard-8. The Nose Jewel - C Rajagopalachari (pp. 81-85). Published by the Tamil Nadu Textbook and Educational Services Corporation.