Question
What is the maximum loan-to-value (LTV) ratio allowed
for loans sanctioned by banks against the pledge of gold ornaments and jewellery for non-agricultural purposes?Solution
Loans sanctioned by banks against the pledge of gold ornaments and jewellery for non-agricultural purposes should not exceed 75% of the value of the gold ornaments and jewellery. Furthermore, the LTV ratio of 75% should be maintained throughout the tenure of the loan. The LTV ratio is calculated against the total outstanding amount, including accrued interest, and the current value of the gold jewellery accepted as security or collateral.
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