The Reserve Bank of India (RBI) on October 06, 2023, issued a notification regarding Gold Loan – Bullet Repayment for Primary (Urban) Co-operative Banks
This shall come into force on October 06, 2023
The following has been stated namely: -
• it has been decided to increase the monetary ceiling of gold loans that can be granted under the bullet repayment scheme, from ₹2.00 lakh to ₹4.00 lakh for those UCBs who have met the overall PSL target and sub-targets as of March 31, 2023, and continue to meet the targets and sub-targets as prescribed at para 2 the circular dated June 8, 2023.
• it states that All other provisions of the aforesaid circulars remain unchanged.
[Notification No. RBI/2023-24/66 DOR.CRE.REC.42/07.10.002/2023-24]
