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BRIEF-RBI hikes quantum of gold loan granted by Regional Rural Banks to 200,000 rupees
February 16, 2017 / 11:35 AM / 8 months ago

BRIEF-RBI hikes quantum of gold loan granted by Regional Rural Banks to 200,000 rupees

Feb 16 (Reuters) - Reserve Bank of India:

* RBI - repayment of gold loan

* RBI - it has been decided to increase the quantum of loan that could be granted under the scheme, from inr 100,000 to inr 200,000

* RBI - RRBs should maintain loan to value ratio of 75% on outstanding amount of loan including interest on ongoing basis, failing which loan to be treated as NPA

* RBI - crop loans sanctioned against collateral security of gold/gold ornaments to continue to be governed by extant income recognition,asset classification,provisioning norms Source text - (bit.ly/2kt7mix)

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