SC: Magistrates Should Not Record Prosecution Evidence in Sessions-Triable Cases  ||  Supreme Court Lays Down Guidelines on Using ITRs to Assess Motor Accident Victims' Income  ||  Supreme Court: Citing AI-Generated Fake Precedents Amounts to Advocate Misconduct  ||  Bombay HC: Horse-Trading Rampant in Maharashtra, FIRs 'Washed' After Switching Sides  ||  Tripura High Court: Senior Citizens Cannot be Penalised For Failing to Follow Cases Online  ||  Delhi High Court: Parent Cannot Gain Advantage by Keeping a Child Against a Foreign Court Order  ||  Allahabad HC: Places of Worship Act Bars Conversion of Religious Character, Not State Acquisition  ||  Jharkhand HC: Single Instance of Mother-In-Law Abusing Daughter-In-Law Does Not Amount to Cruelty  ||  Madras High Court: No Appeal Lies Against E-Court Status or Adjournment Orders  ||  Chhattisgarh HC: Judicial Officer Promotion Cannot be Denied on Complaint Without Disciplinary Action    

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