Reserve Bank of India

15.10.2015

Banking

Advance against pledge of gold ornaments and jewellery

MANU/RMIC/0367/2015

Reserve Bank of India has extended its policy standardising the valuation of gold jewellery presented towards security or collateral to cooperative banks, which may now use historical spot gold price data of the preceding 30 days publicly disseminated by a commodity exchange regulated by SEBI.

Relevant

Advance against Pledge of Gold/ Silver Ornaments MANU/RMIC/0063/2014
Lending against Gold Jewellery MANU/RMIC/0103/2014

Tags : Valuation gold ornaments jewllery cooperative bank

Share :