New gold loan rules soon: These 9 proposals in RBI’s draft guidelines may impact you

Reserve Bank of India plans to standardize gold loan rules. New guidelines focus on banks and NBFCs. Loan-to-value ratio is capped at 75%. Borrowers need to prove gold ownership. Lenders must provide purity certificates. Loans are allowed against specific gold and silver. There are limits on collateral weight. Gold valuation will be standardized. Detailed loan agreements are mandatory.