RBI Doubles Gold Loan Limit for Regional (क्षेत्रीय) Rural Banks to Rs. 2 lakhs
The Reserve Bank of India increased the gold loan limit for RRBs (Regional Rural Banks) to Rs 2 lakh from the current Rs 1 lakh on February 16, 2017 to help the farmers and artisans(कारीगरों) have access to credit who are willing to pledge(प्रतिज्ञा) gold as collateral(सहायक) .The limit has been
doubled for the loans not exceeding 12 months from the date of sanction. Besides, the facility will be available with bullet repayment scheme. Under the scheme, while interest will be charged on a monthly basis on the total outstanding, it will become due for payment along with principal only at the end of 12 months from the date of sanction. However, RBI has also directed that the gold loans should not exceed( से अधिक नहीं) 75% of the value of the gold pledged for taking the loan.
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