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RBI Clarification on NBFCs finance for Purchase of Gold

RBI/2012-13/510
DNBS.CC.PD.No.326/03.10.01/2012-13

May 27, 2013

To
All NBFCs

Dear Sir,

NBFCs  finance for Purchase of Gold

In terms of extant guidelines issued vide circular DNBS.CC.PD.No.265/03.10.001/2012-13 dated March 21, 2013 no advances should be granted by NBFCs against bullion / primary gold and gold coins.

2. It is clarified 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.

Yours faithfully

(N. S. Vishwanathan)
Principal Chief General Manager

Tags: Exchange-traded fundGoldGold coinGold exchange-traded productMutual fundPrecious metalReserve Bank of IndiaRun batted in

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