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NBFC cash loan against gold restricted to Rs 20,000 - Updatetia
Non-Banking Finance Companies (NBFCs) cannot lend more than Rs 20,000 in cash against gold, the Reserve Bank said today. The earlier provision for NBFC was that high value loans against gold of Rs 1 lakh and above must only be disbursed by cheque. RBI reduced the amount to Rs 20,000 from the earlier Rs 1…