All Branches & Offices.

Sub: GOLD LOANS PERMISSIBLE FINANCE PER GRAM

The permissible finance per gram for advances against 22 carat gold ornaments as per
extant norms, is as follows:
a) Rs.1750/- for Gold loans other than Gold Max & Gold Power
b) Rs.1800/-for Gold Loans under Gold Max Scheme
c) Rs.1850/- for Gold Power
In view of the existing market rates, it has been decided to increase the lending rate per
gram as follows, with effect from 07.12.2011
a) Rs.1850/- for Gold loans other than Gold Max & Gold Power
b) Rs.1900/- for Gold Loans under Gold Max Scheme
c) Rs.2000/- for Gold Power
Branches are advised to keep a close watch over the market price movements and take
suitable steps for auction of gold ornaments, if interest is defaulted for 2 consecutive
months, for advances under Gold Power Scheme.

(Cheryan Varkey)
EXECUTIVE DIRECTOR






DEPT: CREDIT 362/CC-GEN/85/11-12 06 December 2011