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RBI Wants Loans Taken Against Gold Jewellery To Be Classified On End-Use
Mint New Delhi
|April 10, 2025
The Reserve Bank of India (RBI) on Wednesday issued a draft circular proposing measures to strengthen norms for loans given against gold ornaments and jewellery.
These include classifying gold loans as 'income generating' and 'consumption' loans, setting a floor price for gold auctions, allowing top-up loans or loan renewals only against existing gold loans classified as 'standard', and barring loans against gold-based securities such as gold ETFs and gold mutual funds.
The norms will also apply to loans secured by silver jewellery, silver ornaments and specified silver coins "wherever lenders are permitted to extend loans against such collaterals," the central bank said.
The revised framework proposes to harmonize such regulations across different regulated entities and address a "few concerns", the regulator said, seeking feedback on the norms by 12 May 2025.
This story is from the April 10, 2025 edition of Mint New Delhi.
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