I accompanied my friend while he had applied for Gold loan in HDFC bank. In every big and small cities in India HDFC Bank is available and many of us may not be aware that these banks are operated through franchise model. In every branch and billboards, HDFC has displayed how easily it can issue gold loans and catchy point that we never notice is small star mark mentioning conditions apply.
On an average, with all the relevant documents required it took 2 hours to complete the formalities and amount getting credited in the account. My observations in the whole process is as follows;
Most of the banking checklist verification is based on their process. a little change they get confused and require approval from higher authority.
Even if you have a good balance in your account, they are least bothered about the funds but over worried on internal approvals
Today everywhere technology is deployed, this can be replicated for all. To check purity of gold, Carot meter is available. But the bank will rub the gold with stone and use acids for checking!