What is the new rule of gold loans?

New Delhi, March 19-Congress MP from Tamil Nadu, Manickam Thakur, has moved an adjournment motion in the Lok Sabha against the changes made in the rules for gold jewellery loans.

Gold loan

Amendment in gold jewellery loan rules

In a letter to Speaker Om Birla, he said, According to the new rules, customers will have to repay the entire principal amount along with interest at the end of the loan tenure, and after doing so, they can pledge their jewellery for a new loan or renew the loan the very next day.

This is likely to cause difficulties especially for customers who are already in financial difficulty, as under the existing rules, they were allowed to repay only the interest during the loan tenure.

At the end of the loan tenure, when they were unable to repay the entire principal amount, they were renewing their loan accounts. The current new rule is causing more suffering to the borrowers.

To such a question, the Finance Minister had replied on the 10th:

To protect lenders from risks such as fluctuations in gold prices and valuation errors, as per the current instructions of the RBI, banks and non-banking financial institutions are not allowed to provide loans exceeding 75 percent of the value of the jewellery.

Furthermore, to reduce the risk of default, loans are not allowed to be extended beyond 12 months from the date of bank approval," he had said.

Comments

At one time, the tax rate in India was 97.50

Many feel that foreign countries tax the rich very heavily and India does not. But did you know that at one time India had to pay 97.50 percent of income tax? Indira Gandhi What is the historical tax rate in India Debates such as distribution of wealth and introduction of inheritance tax have arisen and are currently being discussed in a frenzy. But, in our country, 50 years ago, maximum tax was collected up to 97.50 percent. There was such a period in India. During Indira Gandhi's tenure as Prime Minister, income tax in India was as high as 97.50 percent. However, this collection came to an end shortly after. Indira Gandhi saw taxation as an important mechanism to balance income and wealth. Based on this, in February 1970, he presented the budget in Parliament and addressed it. Social welfare was the theme of the budget. Since the green revolution was taking place, various announcements related to the agriculture sector were included in the budget. A huge sum...

Emmvee Photovoltaic Power Share Price Target 2030: Is It a Buy?

The renewable energy sector, particularly the solar energy segment, is growing rapidly. If you are looking for long-term growth opportunities in this sector, 'Emmvee Photovoltaic Power' is a company that warrants your attention. Based on recent market studies and financial reports, we outline the company's key operational metrics here and analyze why market analysts recommend it as an excellent long-term investment. Emmvee Photovoltaic Power: Key Stock and Market Metrics As of July 16, 2026, the company’s stock boasts strong fundamentals, supported by robust operating profit margins and excellent capital utilization. Metric | Details / Statistics Current Share Price (as of 16.07.2026): ₹365.35 Market Capitalization: ₹24,696 Crore Analyst Recommendation: Buy Recommended Investment Horizon: 5 years Expected Target Price (by 2030): ₹628.00 A Detailed Look at Financial and Valuation Ratios To understand why analysts are confident that Emmvee Photovoltaic Power will reach a targ...

What is the future prediction of Vedanta share in 2026?

To enable investors to choose sectors that align with their preferences, the Vedanta Group has demerged into four separate entities, which were listed on the stock exchange the day before yesterday. What is the outlook for the four newly listed Vedanta entities over the next six months? Stock market expert Reji Thomas shares his insights regarding their performance and the outlook for the next 3–6 months. Vedanta Aluminium Metal Price: 471 Operations: India’s leading integrated aluminium producer, covering the entire value chain—from bauxite mining and refining to the manufacture of products for sectors such as construction, automotive, power, and packaging. Business Outlook: Driven by large-scale infrastructure, low production costs, and steady demand, this is considered the strongest business among Vedanta's four new entities. Next 3–6 Months: Revenue and market valuation are expected to rise in the coming quarters, supported by international price stability and strong domesti...

22k jewelers

Search This Blog