RBI finds irregular practices in loans against pledge of gold ornaments, entities advised to review policy

Mumbai (Maharashtra) [India], September 30 (ANI): Reserve Bank of India has found irregular practices in the grant of loans against pledges of gold ornaments and jewelry by some entities. It has thus advised all "supervised entities" to comprehensively review their policies, processes, and practices on gold loans to identify gaps.

They have been asked to initiate appropriate remedial measures in a timebound manner.

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