Pawning advances
CB calls for reduction in interest rate:
The Central Bank has called upon all banks which participate in the
Credit Guarantee Scheme supported by the Government and the Central Bank
to reduce the applicable interest rate for such pawning advances to 12
percent from 15 percent, with immediate effect.
Twelve banks have joined the Credit Guarantee Scheme and such banks
grant advances up to 80 percent of the market value of gold. |