People seeking loan against gold jewellery can now borrow more. The Reserve Bank of India has allowed Non-Banking Financial Companies, NBFCs to lend up to 75 per cent of the value of gold.

It was 60 per cent earlier. RBI said, it has been done in view of the moderation in the growth of gold loan portfolios of NBFCs in the recent past. It said, the value of the jewellery for the purpose of determining the maximum permissible loan amount will be only the intrinsic value of the gold content and no other cost like making charges.