Tuesday, May 6 2025 | Time 02:47 Hrs(IST)
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Bihar: Gold loan, payment gateway scheme initiated in Cooperative banks

Patna, May 5 (UNI) The Bihar government has initiated gold loan and payment gateway scheme facilities in the Cooperative banks.
Bihar Cooperative minister Prem Kumar, while initiating the scheme at Bankipur branch of Bihar State
Cooperative Bank, said here on Monday that the cooperative banks were playing a pivotal role in development of the state.
Kumar appealed to the people to associate with the cooperative banks to avail all the latest modern banking facilities and cooperate in the development mission of the state.
He said that under the gold loan scheme, Bihar State Cooperative Bank will provide loans from Rs 20,000 to Rs five lakh to its customers by evaluating the ornaments at the interest rate of 9.5 percent to 10 pc. The period of the loan would vary from one month to 12 months.
He said that ornaments deposited would be insured.
Speaking about the payment gateway facility launched in the cooperative banks, the Minister said that it will help the customers in digital transactions and would also make the banking system more transparent and simpler.
UNI RS SS
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