What is Tanch? (टंच)
Tanch refers to the purity or fineness of gold or silver in the traditional Indian jewelry market, often expressed as a percentage.
Detailed Explanation
When a customer brings jewelry for a loan, the lender checks the 'Tanch' to determine the actual gold content. For example, a Tanch of 75 means the item is 75% pure gold (equivalent to 18 Karat). The loan amount given is heavily dependent on the Tanch of the collateral, as impurities (like copper or wax) hold no monetary value for the lender.
Why is Tanch Important?
Accurately recording the Tanch prevents disputes when the customer returns to release their jewelry. If the Tanch is recorded incorrectly, the lender risks over-valuing the collateral.
How SthirApp Handles Tanch
SthirApp allows lenders to specifically input the Tanch alongside the gross weight and net weight of the item. This ensures a permanent, unalterable record of the collateral's exact purity at the time of the loan.
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