Trade body prays for extension of Gold Metal Loan tenure by 90 days post August 31

“If this extension is not permitted, all GML contracts would be crystalized and, thus, converted to the higher interest bearing Working Capital Limits, which attract an interest rate of 12-14% per annum (Interest on GML is 3-4%),” said Surendra Mehta, national secretary of IBJA.

from Banking/Finance-Industry-Economic Times
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