Thursday, September 7, 2017

Indian Government Prepared to provide cheap gold to jewelers

In order to provide Gold easily to jewelers, interest rates on gold loans can be reduced and there is a possibility of importing gold on lease. The Prime Minister's Office has recommended this to the Finance Ministry.

According to sources, the proposal sent by the Prime Minister's Office to the Finance Ministry has recommended that interest rates on Gold loans should be low, not to charge premium on gold loan, to provide a Gold Loan for a longer period and Gold on Lease Allow importing. According to the PMO, allowing the import of gold on lease will not be required to pay the full price of gold and there will be a significant reduction in current account deficit. Explain that jewellers take a gold loan from the bank. At present, gold lends 2 to 4 per cent interest on loan.


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