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Gold Valuation Procedure:
The gold jewellery accepted as collateral shall be valued by the designated staff at the branches using the Acid and Saltwater tests, as follows:
- Gold testing to be done at a designated place under CCTV surveillance.
- The appraiser will weigh the jewellery and note down the gross weight.
- The appraiser will assess the jewellery to identify the number of stones and apply deductions as required.
- Based on the total weight of stones and impurities, the appraiser will derive the net weight of the jewellery post standard deductions as per internal TVS Credit approved policy.
- Nitric Acid and Saltwater tests are conducted on the gold impressions of the jewellery formed on the touchstone to assess purity.
- The purity of gold, gross weight, deductions, and the arrived net weight are considered for the Funding Value.
- The purity of the gold jewellery accepted as collateral shall be evaluated by determining its actual purity (caratage) and converting it to the 22-karat equivalent.
- The lower of the following prices shall be adopted for valuation of the collateral (used to determine the Loan-To-Value ratio):
- (a) The average closing price for gold of the 22-karat equivalent purity over the preceding 30 days
- (b) The closing price for gold of the 22-karat equivalent purity on the preceding day
*price as published by the India Bullion and Jewellers Association Ltd. (IBJA) or by a commodity exchange regulated by the Securities and Exchange Board of India (SEBI).
