NBFCs finance for Purchase of Gold

By Vijay Kumar

AS per the existing guidelines, no advances should be granted by NBFCs against bullion / primary gold and gold coins.

Reserve bank of India, now clarifies that no advances should be granted by NBFCs for purchase of gold in any form, including primary gold, gold bullion, gold jewellery, gold coins, units of gold Exchange Traded Funds (ETF) and units of gold Mutual Funds.

RBI/2012-13/510 - DNBS.CC.PD.No.326/03.10.01/2012-13., Dated: May 27, 2013