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Many were happy that neighbourhood cooperative banks were more liberal with gold loans than larger lenders, but it couldn’t last. The RBI recently said loans given by Regional Rural Banks and Central/State Co-op Banks should not exceed 75 per cent of the value of the gold. It has also standardised the valuation norms at the average closing price of 22-carat gold for the preceding 30 days, as quoted by the Bullion and Jewellers Association. Jewellery of lower purity will be valued proportionately lower.
Exclusive online store from IndusIndWhile many banks partner with online stores to help customers redeem reward points, IndusInd Bank has walked the extra mile. The bank has opened its own store on the web, www.themorestore.in, for its customers. The store has products for different categories of credit and debit card holders across verticals such as automotives, home and kitchen, health, lifestyle, travel and gifting. Apart from redemption, the store also allows you to shop using your card or use the redemption and shopping option together.
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