Patna: The Bihar State Cooperative Bank (BSCB) has announced a significant expansion of its services with the launch of a new Gold Jewellery Loan Scheme and the inauguration of a Payment Gateway system, both aimed at improving banking accessibility and transparency across the state.
The Gold Jewellery Loan Scheme, set to be launched by Cooperative Minister Dr Prem Kumar on May 5, will offer loans ranging from Rs 20,000 to Rs 5,00,000, based on the valuation of pledged gold jewellery. The loan tenure will range from one month to a maximum of 12 months, with an interest rate of 9.5% to 10%. For added security, the pledged jewellery will be insured. Customers who repay their loans on time may be eligible for an extension of the loan term. The scheme aims to monetise idle gold assets, providing financial assistance for both personal and business purposes.
Dr Prem Kumar will also inaugurate BSCB’s new Payment Gateway on the same day. The digital platform will allow customers to make online payments via credit card, debit card, and UPI, offering a faster and cost-effective alternative to existing payment channels. The initiative is expected to reduce dependency on third-party service providers, lower transaction charges for users, and enhance the bank’s control over the payment process.
BSCB also plans to expand the use of its payment gateway to other institutions and government departmental schemes, aiming to streamline transactions and strengthen financial monitoring.
