Banks to reduce the amount for Gold Loan

Due to deterioration of Gold prices, banks must provide a reduction up to five thousand rupees for Gold loans, banks have been ordered. 
Due to reduction of gold price and increasing investment the order has been made.
When the price of a gram of gold sold for 2900 rupees, banks rate is 2200 per gram, and for 8gm it was 17,600.  
Currently, gold price has been declined to Rs 2426 and the present bank rate for gold loan is declined to Rs12 thousand. Thus, on average, more than five thousand rupees has been reduced. 

Due to deterioration of gold price, the gold reserves (557.75 ton) with the Reserve Bank plunged to 29 per cent, to $ 2.417 million. Though due to rise in gold prices for 10yrs, and average expenditure for the purchase of gold is calculated the loss is minimum, RbI.