Gold loan: Due to volatile gold prices, the Reserve Bank of India has instructed banks and financial institutions to reduce gold loan amounts from 70–72% of gold value to 60–65%. Gold loans surged from ₹1.10 lakh crore in April 2024 to ₹3.37 lakh crore by October 2024. Today in Chennai, 24K gold sells at ₹12,570 per gram and one sovereign at ₹1,00,560.
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