RBI announces increase in the monetary ceiling of gold loans

Reserve Bank of India (#RBI) announced an increase in the monetary ceiling of gold loans that can be granted under the bullet repayment scheme from Rs 2 lakhs to Rs 4 lakhs for urban co-operative banks (UCB) who have met the overall PSL target and sub targets as on March 31, 2023.

These banks will be required to continue to meet the targets and sub-targets thereafter and detailed guidelines on the matter will be issued separately, according to an RBI statement.