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Eligibility
Jewellers with new/ established business
Nature of facility
Cash Credit –Hypothecation
Quantum of finance
50% of the average stock holding or 3 months’ sales, whichever is less, subject to a minimum of Rs 10 lacs and maximum of Rs 100 lacs |
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Takeover
May be taken up selectively
Rate of interest
Competitive rates based on credit rating of proposal
Stock statement
To be submitted yearly as on 31st March, together with copies of returns filed with the Sales Tax / Excise authorities
Insurance
Should adequately cover the hypothecated gold
Security
Primary – Hypothecation of the entire stock of gold/ gold ornaments, furniture, fixtures and other fixed assets of the unit/ firm
Collateral – Equitable mortgage of property of not less than 150% of the limit
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