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Punjab National Bank - PNB GOLD LOAN

Recommendation: Upheld | Medium: Suo Motu - NAMS (TAMS)

In the absence of a written response along with documents for substantiation on or before the prescribed due date, the ASCI Secretariat considered this complaint exparte. Claim, “PNB Gold Loan Lowest ROI* ”, was not substantiated with verifiable comparative data to prove that the advertiser's bank offers a lower interest rate for gold loan compared to other banks. The claim is qualified by a disclaimer stating, 'T&C apply', but the advertiser has not specified the terms and conditions applicable for availing the gold loan. The claim is misleading by exaggeration, and is likely to lead to widespread disappointment in the minds of consumers. This advertisement is in contravention of Chapter I, Clauses 1.1, 1.4, and 1.5 of the ASCI Code. Complaint was Upheld.