G Manivachgam
1 year 3 months ago
RBI directions to Banking Institutions that no loans to be sanctioned for senior citizens say above 70 or 75 years is unjustified decision.. Needs urgent review. Senior citizens needs unqualified support from the government particularly when they are left to take care of themselves. GOI to come up with some guarantee scheme directly or through insurance sector. Denial of gold loans to senior citizens is totally unjustified when there is more than 100% security deposited. Please order review and revision. Recent instruction of RBI on gold loan renewal also needs urgent review and restoration of old procedure to ensure short term borrowers are not getting into the trap of money lenders and miseries.
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