tag:blogger.com,1999:blog-11458564257210935022024-03-08T07:49:48.773-08:00Perambalur Finance Centre, Tamil NaduTamilnadu Finance Centrehttp://www.blogger.com/profile/11875092779560270520noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1145856425721093502.post-37722601687553602512017-02-27T12:43:00.002-08:002017-02-27T12:43:43.117-08:00Goldloan Microfinance in Tamil Nadu & valuation of gold as per RBI<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">Banks and NBFC (non-banking finance companies), especially <a class="_58cn" data-ft="{"tn":"*N","type":104}" href="https://www.facebook.com/hashtag/goldloan?source=feed_text&story_id=639718649547852"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">goldloan</span></span></a> companies has allowed by RBI to provide loan up to 75 percent of the value of the gold jewellery since, Jan 2014.<span style="font-family: "trebuchet ms" , sans-serif;"> </span>As per RBI, for the purpose of determining the maximum permissible loan
amount, will be only the intrinsic value of the gold content therein,
and no other cost elements, such as making charges, should be added
thereto.</span></span></div>
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<span style="color: #f1c232;"><b><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;"> Ownership of Gold:</span></span></b></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">In view of the fact that it
may not be possible for borrowers to produce receipts establishing
ownership, especially when the jewellery has been inherited, the <a class="_58cn" data-ft="{"tn":"*N","type":104}" href="https://www.facebook.com/hashtag/rbi?source=feed_text&story_id=639718649547852"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">RBI</span></span></a> clarified that the ownership verification need not necessarily be through original receipts for the jewellery pledged.</span></span></div>
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For verification, a suitable document could be prepared to explain how
the ownership was determined, particularly in cases where the <a class="_58cn" data-ft="{"tn":"*N","type":104}" href="https://www.facebook.com/hashtag/goldjewellery?source=feed_text&story_id=639718649547852"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">goldjewellery</span></span></a>
pledged by a borrower at any one time or cumulatively on loan
outstanding is more than 20 gm. NBFCs have been directed to put in place
an explicit policy in this regard.</span></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;"> <span style="color: #f1c232;"><b>Purity of Gold:</b></span></span></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">The certified purity at the base of <a class="_58cn" data-ft="{"tn":"*N","type":104}" href="https://www.facebook.com/hashtag/22carat?source=feed_text&story_id=639718649547852"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">22carat</span></span></a> shall be applied for determining the maximum permissible loan and the reserve price for <a class="_58cn" data-ft="{"tn":"*N","type":104}" href="https://www.facebook.com/hashtag/auction?source=feed_text&story_id=639718649547852"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">auction</span></span></a>. The <a class="_58cn" data-ft="{"tn":"*N","type":104}" href="https://www.facebook.com/hashtag/nbfcs?source=feed_text&story_id=639718649547852"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">NBFCs</span></span></a> can, however, include suitable caveats to protect themselves against disputes on redemption.</span></span></div>
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<span style="font-size: large;"> <span style="font-family: "trebuchet ms" , sans-serif;"> <a href="http://goldloan.nbfc.in/" rel="nofollow" target="_blank">http://goldloan.nbfc.in</a></span></span></h3>
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<span style="font-size: large;"><span style="font-family: "trebuchet ms" , sans-serif;"> Email: ask@nbfc.in</span></span></h3>
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Tamilnadu Finance Centrehttp://www.blogger.com/profile/11875092779560270520noreply@blogger.com