B a 3ihm asker Bank of Baroda BCC:BR:108:2 24> 16.07.2016 ———— eee CIRCULAR TO ALL BRANCHES / OFFICES IN INDIA. Issued by Rural & Agri Banking Dopartment Dear Sir, Re: Scheme for lending to Agriculture and other Priority Sector advances against the security of Gold ornaments! jewellery- Advance value of Gold Jowollery/ Ornaments. We invite reference to our circular No. BCC:BR:106:217 dated 16.05.2016 advising therein the advance value of gold jewellery/ ormaments. ‘The advance value of the gold jewellery has been revised from time to time ang the last revision was communicated through our above circular wherein, we have stipulated the ‘advance value of the gold jewellery at 208/- per gram for 24 carat purty with @ provision {or reduction in valuation by 85/- per gram for every carat reduction, In tecent months the price of gold has shown increasing trend. Hence a need was felt to increase the advance value. Accordingly, based on the average price of the last three months. ending June 2076, we are now fixing the advance value of gold jewellery at 2221I- per gram for 24 carat purity with a provision for reduction in valuation by 921- pper gram for every carat reduction. AS such the advance value per gram of gold Jewellary of 22 carat purity is fixed at 2035).This advance value will be effective til further instructions. |All other guidelines of the circular No. BCC.BR. 102/78 dated 08.03.2010 will remain the ‘same, We therefore, roquost you to follow all other guidelines strictly more particularly, the guidelines on “Reappralsal of Gold Jewels" & "Detection of Spurious jewellery” and safe keeping of Gold jewels. ‘As there is wide fluctuation in gold price, branches are advised to ensure that ‘stipulated margin Is maintained throughout the period of loan by advising the borrowers and making required recoveries, wherever it is necessary. ‘Yours faithfully, K General Manager Rural & Agri Banking : sadn eo eter, 34, at als, arene werden, BFAE-400051, are Baroda Sun Tower, 6-24, @-Block Bandra Kurle Complex, Mumbel-400061, India ‘prone 94 22 s7s52560-69 Fax 93 22 67592505 web: wap bankettareda.com & Mal pe-beebankofbarods.com