Regional rural banks can offer gold loans up to Rs 2 lakh

Posted on:17 Feb 2017 09:25:59
Regional rural banks can offer gold loans up to Rs 2 lakh
17 February 2017 Current Affairs: Reserve Bank of India has raised the ceiling of gold loans given by regional rural banks (RRB) to Rs 2 lakh from Rs 1 lakh, expanding the access to credit for farmers and artisans willing to pledge gold as collateral. 

RRBs with their 21000 branch network across country's rural belt play a significant role in farm credit and offer loans for various purposes against the security of gold or gold ornaments as a part of their lending policy. 

RBI has doubled the gold loan ceiling for loans not exceeding 12 months from the date of sanction. 

This facility comes with bullet repayment option. This means the loans will become due for payment only at the end of the tenure. But the interest will be charged at monthly rests. 

 
Reserve Bank of India has raised the ceiling of gold loans given by regional rural banks (RRB) to Rs 2 lakh from Rs 1 lakh, expanding the access to credit for farmers and artisans willing to pledge gold as collateral. 

RRBs with their 21000 branch network across country's rural belt play a significant role in farm credit and offer loans for various purposes against the security of gold or gold ornaments as a part of their lending policy. 

RBI has doubled the gold loan ceiling for loans not exceeding 12 months from the date of sanction. 

This facility comes with bullet repayment option. This means the loans will become due for payment only at the end of the tenure. But the interest will be charged at monthly rests. 

 

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs Weekly PDF

Current Affairs Monthly PDF

Current Affairs Quiz

Current Affairs Monthly PDF Hindi

Currentt Affairs 2018 December

11 DECEMBER
NEWS
10 DECEMBER
NEWS
9 DECEMBER
NEWS
8 DECEMBER
NEWS

Currentt Affairs 2018 November

30 NOVEMBER
NEWS
29 NOVEMBER
NEWS
28 NOVEMBER
NEWS
27 NOVEMBER
NEWS

Currentt Affairs 2018 October

31 OCTOBER
NEWS
30 OCTOBER
NEWS
29 OCTOBER
NEWS
28 OCTOBER
NEWS