RBI Raised Monetary Ceiling of Gold Loans from Rs 2 lakh to Rs 4 lakh for UCBs

GG News Bureau

New Delhi, 9^th Oct. Under the leadership of Prime Minister Narendra Modi and guidance of Union Home Minister and Minister of Cooperation Amit Shah, the Ministry of Cooperation is committed to strengthen cooperatives and treat them at par with other forms of economic entities, both as beneficiaries and participants.

In order to remove difficulties faced by the Urban Co-operative Banks (UCBs), the Reserve Bank of India RBI has increased the monetary ceiling of gold loans under Bullet Repayment Scheme from Rs. 2.00 lakh to Rs. 4.00 lakh for UCBs to meet prescribed Priority Sector Lending (PSL) target.