Big relief from RBI! LTV for gold loans hiked to 90 pct till March 31
Giving relief to those looking for immediate funds, the Reserve Bank of India on Thursday announced that loan to value ratio or LTV for loans sanctioned against pledge of gold ornaments from 75 pct to 90 pct. As per the announcement, the relaxation shall be available till March 31, 2021.
Addressing the media during an online briefing, RBI governor Shaktikanta Das said that it has been decided to increase the permissible loan to value ratio (LTV) for such loans to 90 percent. Source - PTI.