1. Applicant shall be a member of the bank.

2. The purity of Gold ornaments shall be verified & certified by the appraiser appointed by the Bank.

3. The amount of loan shall not exceed 70% of the market value of gold.

4. The amount of loan shall be sanctioned on the net weight based on the amount per gram as Fixed by the Board from time to time.

5. Loan account shall be opened in the system and details of pledged ornaments with Gross weight & Net weight shall be recorded.

6. On certification of purity of the gold ornaments by the appraiser the Manager shall sanction loan Up to Rs 99,000/- and above Rs 99,000/- shall he sanctioned by the CEO.

Documentation :-

a. Application

b. Appraiser report

c. Demand Promissory note

d. Undertaking letter

e. Declaration

7. The sealed pledged gold ornaments bags shall be kept in the joint Custody i.e, Manager & Section assistant as same shall be kept in the double lock Almirah lodged in strong room.

8. The pledged ornaments are kept in cloth bag along with a copy of memo of ornaments and sealed with lac along with number tag.

9. The pledged gold ornaments shall be insured with General Insurance Company.

10. Period of loan.

a) Bullet repayment up to the loan of Rs 1.00 lakh i.e one year.

b) 1year for the loan above Rs 1.00 lakh.