Trusted Clients
Trusted Clients
Gold Loan Irregularities Observed By RBI
The RBI’s review highlighted the following critical areas requiring improvement:
Loan Appraisal & Verification
In customers’ absence, practices like gold valuation
must be replaced with more transparent and
compliant procedures.
End-Use Verification
There is insufficient monitoring of how loan funds are used, suggesting lenders implement stricter checks to ensure compliance.
Lack of a specific identifier
Not assigning a specific identifier for top-up gold loans in the Core Banking System / Loan Processing System calls for stronger management controls.
Reduction of Manual Processes
Adopting technology for digital loan processing, ensuring compliance, and reducing TAT can reduce physical paperwork and high operational costs.
Solving RBI’s Challenges With SignDesk
This table highlights how SignDesk’s solutions address RBI-mandated challenges, ensuring efficiency and regulatory compliance in gold loan processes.
RBI-mandated Regulatory
How do you carry out a gold valuation without a borrower?
How do you verify the ‘End Use of Funds’ documentation?
How to identify borrowers during top-up gold loans?
How to track the high number of gold loans issued to the same individual?
SignDesk’s Solution
Ensure compliance with Geofencing, Liveness Checks, & Enhanced Face Capture to verify the customer's presence during eSign.
Use eStamping and eSignatures to capture borrower declarations. Fund Use Documentation allows uploading supporting documents digitally to agreements.
Assign unique document IDs for every transaction, enabling precise tracking via secure online dashboards. Use Co-editor to collaboratively input key information.
Maintain Secure Audit Trails and Custom MIS Reports for detailed visibility while simplifying gold loan processing through dual-end uploads and automated workflows with banking system notifications.
How do you carry out a gold valuation without a borrower?
Ensure compliance with Geofencing, Liveness Checks, & Enhanced Face Capture to verify the customer’s presence during eSign.
How do you verify the ‘End Use of Funds’ documentation?
Use eStamping and eSignatures to capture borrower declarations. Fund Use Documentation allows to upload supporting documents digitally directly to agreements.
How to identify borrowers during top-up gold loans?
Assign unique document IDs for every transaction, enabling precise tracking via secure online dashboards. Use Co-editor to collaboratively input key information.
How to track the high number of gold loans issued to the same individual?
Maintain Secure Audit Trails and Custom MIS Reports for detailed visibility while simplifying gold loan processing through dual-end uploads and automated workflows with banking system notifications.
Streamline Gold Loans With SignDesk
With SignDesk, you can streamline your Gold Loan process and simplify your signing and stamping process in under 10 minutes!
Log In
Get into your
SignDesk account
effortlessly
Upload
Add Loan agreement that you need to process
Invite
Send an invite to Signers instantly via email
eSign
Get your document eSigned in real-time
Share
Send the signed agreement to all parties
Execute
Pay Stamp Duty & execute your document via e-stamping
Key Benefits of Using SignDesk for Gold Loans
With the following features, SignDesk ensures a secure, efficient, and user-friendly experience, solving RBI’s gold loan irregularities.
Instant eSigning & eStamping Anywhere, Anytime
Borrowers can digitally sign and stamp loan documents from any location, ensuring faster uapprovals and seamless disbursals without physical interaction.
Enhanced Security & Compliance
All eSignatures are Aadhaar-based & legally valid, ensuring tamper-proof documents & compliance with regulatory standards like the IT Act of 2000.
Customizable eSignatures
You can choose from various flexible options, including Aadhaar eSign, DSC signature, electronic eSign, and evidence creation.
Ease with WhatsApp Notification Integration
Lenders can inform borrowers by sending links, OTPs, and final copies directly to their WhatsApp chats.
Custom Parameters
Track documents with unique IDs on secure online dashboards for better control and monitoring.
Faster Turnaround Times
With manual paperwork eliminated, lenders can process loans in hours, giving borrowers immediate funds and up to 90% quicker contract closures.
Geofencing & Face Match for Enhanced Security
Lenders can set virtual boundaries, ensuring document processing and gold valuation occur only in borrowers’ presence.
Cost Reduction
Digitizing the gold loan process will reduce operational expenses associated with printing, logistics, and physical storage.
Traditional Gold Loan Process V/s Gold Loan Process with SignDesk
Explore the table below to see how SignDesk eSign enhances your Gold Loan process.
Traditional
Manual paperwork requiring physical signatures.
SignDesk
Digital signing and stamping are compliant with Indian laws.
Traditional
Physical verification of signers and documents.
SignDesk
Instant online authentication with liveness checks and face matching.
Traditional
Days to weeks for processing and approvals.
SignDesk
A few hours to process and approve loans digitally.
Traditional
Manual follow-ups via calls or emails.
SignDesk
Automated notifications via email and WhatsApp.
Traditional
High costs for paperwork, logistics, and storage.
SignDesk
Minimal costs with fully digital workflows.
Verification Process
Traditional
Physical verification of signers and documents.
SignDesk
Instant online authentication with liveness checks and face matching.
Turnaround Time
Traditional
Days to weeks for processing and approvals.
SignDesk
A few hours to process and approve loans digitally.
Notifications & Follow-Ups
Traditional
Manual follow-ups via calls or emails.
SignDesk
Automated notifications via email and WhatsApp.
Operational Costs
Traditional
High costs for paperwork, logistics, and storage.
SignDesk
Minimal costs with fully digital workflows.
SignDesk’s solutions accelerate loan disbursals and elevate the borrower’s experience with a hassle-free and transparent process. Similarly, lenders can scale their operations while ensuring precision and compliance.
It’s time to switch to SignDesk eSign & eStamp for a faster, more secure, and more efficient gold loan process!