SC: Exporters with Pending Applications Prior to Rule 96(10) Omission Entitled to IGST Refund  ||  Bombay HC to Scrap Law College Intake Cuts if Mumbai University Follows Prescribed Timelines  ||  Delhi HC Orders Removal of Derogatory Online Content Targeting Actress Tabu  ||  Madras HC Orders Interim Elected Panel to Manage State Bar Council Affairs Until New Committee Forms  ||  Patna HC: Whatsapp Messages Need Section 65B Certificate, Oral Evidence is Insufficient  ||  Allahabad HC: Denying Maintenance That Forces Wife into Destitution Violates Art 21 Right to Dignity  ||  Rajasthan HC Takes Suo Motu Notice of Structural Defects After IIT Bombay Warns Dome May Collapse  ||  Bombay HC: 0.1 Mg Above Alcohol Limit is Insufficient to Warrant a Drunken Driving Trial  ||  Supreme Court: Marking a Document as an Exhibit Does Not Prove its Contents  ||  Supreme Court: Unpaid Consideration Alone Does Not Invalidate a Sale Deed    

Lending against security of single product - Gold jewellery- (Reserve Bank of India) (21 Jan 2020)

MANU/RMIC/0009/2020

Banking

1.Please refer to paragraph 27 of Master Direction - Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016; and paragraph 27 of Master Direction - Non-Banking Financial Company - Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016.

2. On a review, it has been decided that NBFCs can pool gold jewellery from different branches in a district and auction it at any location within the district, subject to meeting the following conditions:

a. The first auction has failed.

b. The NBFC shall ensure that all other requirements of the extant directions regarding auction (prior notice, reserve price, arms-length relationship, disclosures, etc.) are met.

3. Non-adherence to the above conditions will attract strict enforcement action. The aforementioned Master Directions are being modified accordingly.

Tags : SECURITY   GOLD JEWELLERY   LENDING  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved