RBI doubles Bullet Repayment Gold loan limits for urban co-op banks to Rs 4 lakh

RBI doubles Bullet Repayment Gold loan limits for urban co-op banks to Rs 4 lakh

• The Reserve Bank of India, RBI has increased the monetary ceiling of gold loans under Bullet Repayment Scheme from two lakh rupees to four lakh rupees for Urban Co-operative Banks.
• This will remove difficulties faced by the Urban Co-operative Banks and help in meeting the prescribed Priority Sector Lending target. It said, government is committed to strengthen cooperatives and treat them at par with other forms of economic entities, both as beneficiaries and participants.

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Published date : 10 Oct 2023 03:50PM