Ultimate magazine theme for WordPress.

Relief on RBI’s Gold Loan should not get caught in profiteering team

0

new Delhi. Reserve Bank of India for the common people ( reserve bank of india ) Has once again reduced the Gold Loan Limit to 90% after 2013. That is, on gold of one lakh rupees, you can get a loan of 90 thousand rupees from any bank or NBFC. On the other hand, the black game of those earning Profit Booking on Gold will also begin. Yes, this is a sport in which investment is low and profits are many times more. In 2011, the government had reduced the loan limit to 75% due to a similar game, but this time it is 7 months for such people. This facility on gold loan will be till 31 March. Let us also tell you how the black game of profit is played on gold loans.

Also read: RBI big announcement on gold loan, know how much relief the general public got

Have to understand by example
According to the head of the firm that deals in gold on the condition of not publishing the name, this feature of RBI is a great opportunity for many people to play the black game of profit. Such people will buy one lakh gold. He will take a loan of 90 thousand on it. 10 thousand rupees in that 90 thousand and will buy gold from another shop. He will then take a loan of 90 thousand rupees from another bank. If he does this in four shops and takes loans from four banks and NBFCs, then his investment in gold becomes 1.40 lakh, but the gold becomes 4 lakh rupees.

Also read: RBI MPC Meet: Reserve Bank did not change the Repo Rate, now will have to wait

Then the game of profit starts
Suppose when gold was purchased and a loan was taken, the price was 40 thousand rupees per ten grams. The profiteer or black marketer then tells the bank or NBFC that it is not in a position to repay the loan EMI. Take your money by selling gold and the remaining amount should be returned to me. In such a situation, when the bank and NBFC sell that gold after two or three months, and the gold becomes 60 thousand rupees per ten grams, then one lakh rupees 50 thousand rupees are received in exchange for the invested gold of one lakh rupees. The bank collects an interest of 10% with its rupees, ie, keeps around 1 lakh rupees. Returns the remaining 50 thousand rupees.

Also read: Who benefits and losses from BCCI to Broadcaster with Vivo’s withdrawal from IPL 2020

2 lakhs earned by doing so in four banks
As we told you that if you do this in 4 banks or NBFCs and adopt the same method with all banks, you will earn 2 lakh rupees. That is, you invested 1.40 lakh thousand rupees, on which you bought gold of 4 lakh rupees and took a loan of 3.60 thousand rupees. Then after raising the price of gold, you asked the bank to sell gold to close the loan. In that case, according to the calculation given above, you will get a profit of 50 thousand rupees from each bank i.e. two lakh rupees from four banks.

Also read: Sensex rises by 230 points, rises in share market before RBI MPC

Just a condition
The condition in this profiteering game is that the increase in the price of gold should be in the same manner as the experts are expecting. According to experts, in the coming 6 months the price of gold can go from 65 thousand rupees to 70 rupees per ten grams. In such a situation, profiteers will become silver. If this does not happen, the game of profiteers can also be turned upside down. As the current boom in the gold business is being seen, there are chances of some similar living in the coming days.

Also read: Byjus or Coca-Cola can be the main sponsors of IPL 2020 after Vivo’s Exit

The government’s story should not go anywhere
At the same time, the relief given by the government to the common people, that black marketing or profit-making people can also flop. This has also been seen before. According to experts, similar black marketing was seen in 2011. This kind of profit recovery in the recession is not good for the market at all. Had it not been so, the government would not have needed to reduce the loan limit from 90 percent to 75 percent at that time.

.

Leave A Reply

Your email address will not be published.