Reserve Bank of India has given permission to Bihar State Cooperative Bank and District Central Cooperative Banks of the state for giving gold loan at a concessional interest rate, reads a media report.
According to the report, from the current financial year only gold loans will be given by Bihar State Co-operative Bank. The starting cutoff date is July 1.
Soon after, the gold loan scheme will be implemented in more than 250 bank branches of 23 District Central Co-operative Banks.