Project Report
On
Gold Loan Service in India
Subject:
Management of Financial Services
Submitted to: Submitted by:
Dr. Sanjay Medhavi Mayank Raj MBA III sem. Roll no. 28
Department of Business Administration
University of Lucknow
Introduction:
Gold considered an auspicious metal is opening up business opportunities in India. Largely driven by the unorganized segment in the past, most of whom included the pawn brokers, the gold loan market has now started to be driven heavily by the organized segment. The stigma attached to pledging gold is slowly thinning among people while companies
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The product is packed with features such as: * Hassle-free quick processing of loans. * Simplified paperwork. * Easy payment options. * Attractive interest rate.
Gold loans (or deposits) are not backed by cash collateral and, in some cases, are not backed by non-cash collateral. However, the gold may be on-sold by the borrower. With Gold Loan, you can get an instant loan against your gold jewellery and ornaments. The procedure is simple, documentation is minimal and approval is quick.
Features & Benefits : * You can avail Loan upto Rs.20,00,000 & upto 80% of value for any purpose * Safety & Security of your Gold Jewellery * Loan processed in 30 Minutes * ATL - Anytime Liquidity * No EMI, Service only Interest and enjoy the Loan facility * Lower Interest Rates * Simple documentation and fast processing. * Overdraft limit varies depending on the market rate of gold. * Interest rate is payable only amount of the overdraft that you use.
Major Players in providing Gold Loan :
There are majorly four sectors that provide this service. These are: 1. Public Sector Bank 2. Private Sector Bank 3. NBFCs 4. Co-operative Societies
Financial institutions provide 70% to 85% of value of gold pledged as loan. The interest rates vary from 12% to 15.25% for banks whereas NBFCs offer between 12% and 21% depending on the value of the gold pledged. The time
So, $1K somehow magically becomes $100K ($1K+$99K). Assuming that $1K is backed by Gold, then $99K is now backed by loan. It seems like the banks only create $9K but in reality $99K (x10 times) of money has been created out of nothing. Therefore, bank can create as much as money people can borrow. As long as new loan agreement is signed, brand new money is created!
From the salary paid to the financial controllers, it will not take me a long-term to pay the loan. The loan shall have an interest of 4% so that first I pay it the better so that I do not have to incur a lot of expenses at the end. However, even if I will not be able to pay immediately, the cost of interest is not much, and therefore I will manage given the high
Gold was found in the capital of California today Sacramento also called the Sacramento Valley in early 1848 to around 1857. The Mexican province governor gave John Sutter 50,000 acres of land to make a place his was going to call New Switzerland this land stretched from the Sacramento and the American Rivers (“Gold Rush”). John Sutter the owner of the new asked a man by the name of James Marshall to help him build a sawmill that would be located 50 miles east on Sutter's land. (Blashfield 1). So Marshall and his men went to work when Sutter came by to check the progress he found something sparkling in the water of one of the rivers near the sawmill and extracted a lump of gold from a nearby gorge and shouted Gold! Gold! We have found it! But Marshall didn’t really believe him until he threw down a handful of golden flakes on the table. This is how the gold rush started and had them thinking how to keep it a secret.
of the Indian textiles, that the flow of the silver bullion is very conflicted because
the whole amount is not needed at the start of the project, but is financed gradually in three years
bank notes but did not aware that they did not have enough gold or silver
The flow of silver created an obsession for luxury goods as well as greed. In document 1,
The title "Nothing gold can stay" is relatively self explanatory with a little help from someone who knows a little about the
Gold was originally first found by Francisco Lopez near what is now Valencia, California in 1842, But the Gold Rush started when James Wilson Marshall came across Gold at John Sutter’s Mill on January 24, 1848, in Sacramento, California. While Marshall and Sutter tried to keep their discovery of gold a secret, word immediately got out. Soon enough, news papers were telling of the new found Gold at Sutter’s Mill. People around town were being notified of the finding of gold, but were in disbelief. They could not be certain if the gold was just a
Gold was discovered in many rich deposits along the Klondike River in 1896, but due to the remoteness of the region and the harsh winter climate the news of gold couldn’t travel fast enough to reach the outside world before the following year. Reports of the gold in newspapers created a hysteria that was nation-wide and many people quit their jobs and then left for the Klondike to become gold-diggers.
The gold sovereign consequently turned into the most astounding unit of quality, over the previous sterling cash. This change was joined by two further advancements. Initially, the supply of silver significantly expanded with the disclosure of huge stores of silver-bearing minerals in North America and Australia and the recharging of movement and fare of silver from since a long time ago settled mine operations in Mexico, South America, Germany, Spain, and Austria. Second, there was a huge extension of the white collar class in Europe, America, and Britain
The gold and silver then is used for purchasing mercenaries for use in war and for paying citizens of other nations to turn against their country in war. Since gold is of no use to the people of Utopia, it is stored as chamber pots, and cheap jewelry worn only by the bondman, the lowest of Utopian people. When a time comes that requires the use of gold, the Utopians gladly give it up, for to them it is just a toilet. The Utopian government also uses its gold to lend to other nations in need. They are very liberal with their loans, and do not always ask for them to be repaid. Their reasoning is that they have no use for the gold, for they have a surplus of that as well, and the other nation that is in debt has very good use for it.
Gold was used for many different things and it was valued very much during the past and even now it is valued. A common use of gold was when it had been turned into
Watching television, we all see the commercials persuading people to buy and sell gold. They argue that gold is a valuable resource that will always be so. Whether this is true has been a controversial issue over many years. People debate over whether it is more beneficial to buy gold or invest money in something else. Popular financial magazines have weighed in on the debate. Whether people should invest gold or save their money is an issue people are willing to research. There are many reasons why people may want gold maybe to give to a loved one or too safe for later use and others decided whether or not gold is a good investment. People who invest in gold, not those who just invest in a small portion of their wealth, but those who truly
Within the Gilbane Gold case, the major problem is the contribution of water pollution by dumping chemicals to speed production for Z CORP. However, there is doubt as to what extent the company violated city regulations. Tom Richards believes that Z-CORP broke regulations repeatedly but Professor Massin believes that it is not solid evidence. Part of the problem is that two different tests are involved: an older and a less sensitive test which does not break regulations but there is also the newer and more sensitive one which does. The newer test was said that the company just broke city regulations, but not by a large amount.