Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Is it different from similar schemes floated by banks?

April 26, 2017Banks different floated Schemes similar

0

Posted

Is it different from similar schemes floated by banks?

1 Answer

0

Posted

Yes it is different. RBI has given approval to banks that the price of gold sold by them can be marked up to 20% over the prevailing spot bullion price whereas in Muthoot Fincorp through its tie up with Rajesh Exports the maximum mark up on price is only 8%. The gold is sold at lowest rate when compared to Banks .None of the bankers offer buyback facility whereas Muthoot Fincorp repurchases the gold subject to conditions.