Systemic Improvement- Gold Loan Portfolio |
1. Enhanced Due Diligence of Gold Appraiser:
- Introduction of Cooling Period: Initially, Gold appraiser to be appointed for 1 year and thereafter renewal for another 2 years based on annual performance review. Thereafter there should be a provision for cooling period of 1 year which may also be incorporated in agreement.
- Generation of CIBIL: CIBIL Report is to be scrutinized to check credit history and gold loan availment. If he has availed gold loan from other bank where he is on panel as gold appraiser, then enhanced precautions to be taken.
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2. Empanelment a pool of gold appraiser:
- Pool of gold appraiser have been empanelled.
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3. Concept of Super Appraiser:
- Reputed gold appraisers appointed as Super Appraiser at Regional Office level for reappraisal of gold ornaments / jewellery. Regional Office (RO) will take efforts for re appraisal of gold loan security by Super Appraiser in the presence of RO / Branch Official especially in branches where large numbers of gold loan accounts are sanctioned.
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4. Installation of Karatometer on pilot basis:
- installation of Karatometer in branches having large number of gold loan accounts
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5. Special Gold Loan Audit:
- Surprise Verification & reappraisal of security under gold loan.
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6. Training of Staff for Gold Appraisal:
- Provision of Training program for branch staff implemented by the bank.
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