Supreme Court: Right to a Speedy Trial Cannot Override NDPS Act Bail Conditions  ||  SC: Relatives Cannot be Implicated in Bigamy Solely Based on Knowledge of a Second Marriage  ||  Supreme Court: Service Inam Land Attached to a Mosque Constitutes Waqf Property and is Inalienable  ||  Supreme Court: Court Cannot Order an Accused to Surrender While Denying Anticipatory Bail  ||  Supreme Court: Landlord’s Legal Heirs May Amend an Eviction Suit to Include Bona Fide Need  ||  Supreme Court: Unsuccessful Party Can Invoke Section 9 of the Arbitration Act Even After an Award  ||  Karnataka High Court: Accused Cannot be Required to Share Live GPS Location as a Condition of Bail  ||  Guj HC: Plaintiff in Specific Performance Suit Must Prove Readiness &Willingness to Perform Contract  ||  Madras HC: Transgenders are Children of God, Tragedy Lies in Society’s Blindness, Not Their Birth  ||  Del HC: False Educational Qualification Declaration does not amount to Corrupt Practice U/S 123(4)    

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