Now you can borrow money even if you are tied up in silver, not gold.
The Reserve Bank of India (RBI)allows loans against silver . RBI’s big decision. Now you can get loans on silver too. Yes, before the law, you used to take loans by pledging gold. Now you can take loans by pledging silver. If you have silver jewelry or silver cans at home, you can take loans by pledging it in times of trouble. You can get loans immediately by pledging silver jewelry in NBFCs. Know when the new rules will be implemented and how much money you will get. This new rule will bring a big change in the financial sector and will provide easy loan facilities to more people. Earlier, loans were available only on gold, but now silver has also been included in this list, which will bring great convenience to the customers.
According to the new guidelines issued by RBI, the rules for giving loans on silver will come into effect from the beginning of the next financial year, i.e. from April 1, 2026. After this decision, banks and other financial institutions can accept silver as collateral and provide loans. With this step, customers will get more options to meet their financial needs.
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