EDB launches ‘loan against gold’
GK NEWS NETWORK
Jammu, July 10: Ellaquai Dehati Bank, a regional rural bank sponsored by the State Bank of India, today launched “loan against gold” scheme in Jammu.
Launching the scheme at EDB Lower Roop Nagar branch, here, A K Razdan, Chairman of the Bank said Jammu was the “largest” market for the gold in the State and therefore there was a vast potential for gold loan.
"The gold prices are very volatile and people would like to retain the gold, but at the same time utilize it for productive or consumption purpose," Razdan said. “The product has been designed to cater to the instant cash needs of the clients so as they are not compelled to sell their gold ornaments,” he said.
The gold loan facility is ideal for the clients to harness the power of gold by transforming it as a productive asset, he added.
Lastupdate on : Tue, 10 Jul 2012 21:30:00 Makkah time
Lastupdate on : Tue, 10 Jul 2012 18:30:00 GMT
Lastupdate on : Wed, 11 Jul 2012 00:00:00 IST
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