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Advance against pledge of gold ornaments and jewellery- (Reserve Bank of India) (15 Oct 2015)

MANU/RMIC/0367/2015

Banking

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

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