Tuesday, April 17, 2012

BIG TICKET GOLD LOANS BY CHEQUES ONLY

RBI is mulling putting one more break on Gold loan companies. A few months ago RBI barred the associate / group companies from accepting public deposits. Recently RBI  issued guide lines restricting the gold loan by these companies to 60% of the value. The grapevine is that now RBI is thinking of issuing directives to gold companies to disburse the big ticket loans only by way of cheques.

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