A big gold loan scam has been reported at the Bank of Baroda branch in Jangareddygudem. It’s been several days but public has not yet received back it’s original gold.
Jangareddygudem (JRG) is a municipality in Eluru district of the Indian state of Andhra Pradesh.
As per reports, over 4 kg gold is missing from Bank of Baroda Branch. Branch reportedly has around 2,600 gold loan accounts and about 1,600 accounts have been verified so far. Gold weighing over 4 kg belonging to 82 customers is missing.
The value of 10g 24k Gold is approximately Rs.1.5 lac. 4 kg of 24K gold would be worth approximately ₹6 crore.
| City | Price of 10g 24K Gold (Rs.) |
|---|---|
| Bangalore | ₹1,47,488.00 |
| Chennai | ₹1,48,815.39 |
| Delhi | ₹1,47,488.00 |
| Kolkata | ₹1,48,667.90 |
| Mumbai | ₹1,47,635.49 |
| Pune | ₹1,47,488.00 |
This gold was deposited in Bank by people who had taken gold loan. In case of gold loan, gold is deposited by public in bank and bank provides loan against that gold.
People are not protesting against the scam. The protest was organised under the banner of the Andhra Pradesh Rythu Sangham and began with a rally from the Zilla Parishad office to the Collectorate.
More details will be released soon.
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