Further, all nominated banks/agencies have been instructed to open letters of credit for import of gold only on 100 per cent cash margin and release documents against payment basis only.
Banks also have to ensure that the weight of the specially minted coin(s) do not exceed 50 grams per customer and the amount of loan to any customer against gold ornaments, gold jewellery and gold coins (weighing up to 50 grams) should be within the Board approved limit.