*BANKING TITBITS:#581* *IC/23/2025-Sanctioning new Gold Loans to close existing loans* It is observed that branches continue to violate the guidelines despite earlier instructions & still sanction new gold loans to close existing ones, rather than using the proceeds for intended purpose. *The proceeds of new gold loans must not be adjusted against existing loan accounts.* Also, Branches to adhere the following: ->Ensure that the proceeds of new gold loans are used for the intended purpose. ->Mandatorily obtain & upload land records/documentary proof for Agriculture Gold Loans where aggregate sanction limit is above Rs.1.00 lakh. ->Properly document the end use of the loan. ->Maintain strict compliance(RBI/Bank Policies) *TEAM CBOA COIMBATORE* (For Educative Purpose & Internal Circulation only, please follow https://tinyurl.com/cboaofficialwhatsappchannel for daily updates)