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Banks approach RBI to frame policy, guidelines for silver loans: Report

Banks have approached the Reserve Bank of India seeking a policy framework for silver metal loans on the lines of the existing gold metal loans for borrowers. In the last one year, silver exports have gone up around 16 per cent.

Sources quoted in a report in The Economic Times said with the growth in silver exports in the last one year, jewellery manufacturers in India have been asking banks to extend credit for the procurement of silver, silver articles, and jewellery manufacturing.

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