Gold Loan: Now more loans on gold, RBI Governor updates on new rules

Speaking to reporters after the Monetary Policy Review Meeting, the RBI Governor said that the loan-to-value (LTV) ratio on gold loans up to Rs 2.5 lakh is being increased to 85%, but this amount will also include the interest amount. So it can be said that now more loans will be available on gold. Earlier, the draft regulation proposed to increase the LTV to 75%. He also said that even if someone does not have a bill for his gold, he will be able to get a gold loan. For this, a declaration form will have to be filled. The RBI Governor assured that this is only a draft proposal. Before implementing it, discussions will be held with the stockholders. Apart from this, its impact will also be analyzed. Only after this will it be implemented.

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