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RBI increases gold loan-to-value ratio to 90%

Shortpedia

Content Team
Image Credit: shortpedia

The six-member Monetary Policy Committee (MPC), headed by the RBI Governor Shaktikanta Das announced its decision on Thursday. With a view to mitigating the impact of COVID-19 on households, it has been decided to increase the permissible loan to value ratio (LTV) for such loans to 90 per cent, which should not exceed 75 per cent of the value of gold ornaments and jewellery earlier. This relaxation shall be available till March 31, 2021.