By Admin 
Gold Loan: The Reserve Bank of India (RBI) made major changes in the rules of gold loan on Friday, which are going to be implemented soon. These new rules include the increase of LTV ratio, exemption from credit appraisal to gold loans up to Rs 2.5 lakh. Another rule is talked about implementing, under which gold loan will be available only after showing the receipt of buying gold jewelery.
If there is no receipt?
The RBI has said in its draft proposal that the bank or NBFC will not give a loan if there is doubt about the gold loan ownership. That is, if you are thinking of taking a loan in lieu of it by pledging gold and taking a loan, then first you have to show the receipt.
Suppose if you do not have an original receipt, then you have to give self-dealing. That is, you have to prove that you have inherited jewelry and you still own it. Actually, the bank or NBFC will keep the pledge of gold being pledged to keep the pirate verification with them.
What about the inherited jewels?
Many times we get gold ornaments from our parents or on the occasion of marriage. In this situation, the possibility of receipt of receipt is negligible, so can the acer gold jewelery be pledged and cannot be taken?
The answer is that if you have inherited gold jewelry and do not have a receipt for it, you can still get a loan, provided gold is real and valid. In this situation, landers will check things like gold purity, weight, market value. Apart from this, keep the documents required for applying for the loan such as PAN card, Aadhaar card, address proof, passport.
The aim of RBI is to provide loans in a transparent manner to customers with small debt so that they get both more confidence and security. Along with this, fraud and money laundering can also be banned. On April 9, the Reserve Bank issued a draft of new rules of gold loan. In cases of gold loan, RBI wants to set a similar rule for bank and NBFC so that customers do not have any kind of confusion or trouble.
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