In what is seen as an attempt to curb gold robberies which are increasing day by day in the city, Hyderabad police commissioner AK Khan today imposed new restrictions on money-lending organizations giving loans against pledging of gold ornaments.

Addressing media persons after issuing notification with the restrictions, Khan said all money-lending organizations and pawn-brokers in the city must collect a copy of the identity card, two photos and finger prints of the person(s) pledging gold ornaments and taking loans from them. “They should also maintain a register of the persons pledging gold,” he said.

As the organizations and pawn-brokers are not collecting the details of persons pledging gold ornaments, robbers are resorting to gold robberies and easily pledging them with these organizations. “The thieves are pledging the stolen gold ornaments and collecting whatever money given by the lenders,” he said, adding this is the main reason for the recent spurt in gold thefts in the city.

The lenders should get the quality and value of the gold ornaments ascertained by professionals before giving loans on them, he said.

Khan said that two organizations in the city are attracting customers for gold-loans by giving attractive advertisements but they are not collecting even the minimum information of the persons who are approaching them for loans.

He warned the money lending organizations and pawn brokers in the city that they will be dealt with severely if they do not observe the rules henceforth.