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RBI relaxes norms for loans against gold ornaments

RBI relaxes norms for loans against gold ornaments

Last Updated: Tuesday, July 22, 2014, 19:04

The Reserve Bank on Tuesday relaxed the limit of loan that banks can sanction against the pledging of gold ornaments and jewellery.

Gold finance companies up: RBI allows them as banking correspondents

Last Updated: Wednesday, June 25, 2014, 11:19

Shares of finance companies which provide loans against gold rally after the RBI on Tuesday allowed banks to engage non-deposit-taking non-banking finance companies as banking correspondents for financial inclusion.

Muthoot Finance seeks RBI nod to launch pre-paid cards

Last Updated: Wednesday, April 30, 2014, 21:06

Gold financier Muthoot Finance, which has entered the white label ATM space, on Wednesday said it has sought Reserve Bank's permission to pre-load a part of a gold loan in dedicated cards.

Higher loan-to-value ratio will help gold loan cos: Icra

Last Updated: Wednesday, January 15, 2014, 19:07

Rating agency Icra Wednesday revised its outlook on gold loan players Muthoot Finance and Manappuram Finance to 'stable' from 'negative', following the Reserve Bank's decision to increase the loan-to-value (LTV) ratios.

RBI allows NBFCs to lend more against gold jewellery

Last Updated: Wednesday, January 08, 2014, 21:20

People seeking loan against gold jewellery can now borrow more, as the Reserve Bank on Wednesday allowed NBFCs to lend up to 75 per cent of the value of metal from 60 per cent at present.

Mannapuram plans to enter SME, housing finance biz

Last Updated: Thursday, December 26, 2013, 15:41

Following the Reserve Bank's concern over 'concentration risk', gold loan major Mannapuram Finance on Thursday said it will be diversifying into lending for small businesses and housing finance.

Muthoot launches its ESOP

Last Updated: Tuesday, October 01, 2013, 23:15

Muthoot Finance Ltd, India's largest gold loan company today announced the launch of its maiden Employee Stock Options Plan (ESOP), which would benefit its over 24,000 employees.

RBI regulations on gold loan from NBFCs to increase transparency

Last Updated: Wednesday, September 18, 2013, 12:58

The apex bank has clearly stipulated that NBFCs should not issue misleading advertisements like claiming the availability of loans in a matter of 2-3 minutes.

Muthoot Finance seeks licence to start a bank

Last Updated: Monday, July 01, 2013, 19:02

Gold loan company Muthoot Finance Monday said it has submitted an application to RBI for a licence to start a bank.

Restriction on co-operative banks for loan against gold coins

Last Updated: Friday, June 07, 2013, 14:49

Reserve Bank has extended the restriction on advance against gold on co-operative banks as well, a move aimed at curbing demand for gold.

MFs say investments won't be hit by gold loan ban against ETFs

Last Updated: Wednesday, May 29, 2013, 20:36

RBI's decision to ban banks and NBFCs (Non-bank financial companies) from extending loans against gold exchange-traded funds and gold mutual funds will not have any material impact on these investments, industry players have said.

SBI sees no stress in gold loan portfolio

Last Updated: Tuesday, April 16, 2013, 19:40

State Bank of India Tuesday said it does not see any stress on its Rs 35,000 crore gold loan portfolio because of the plummeting prices of the precious metal, but said it will revise its loan-to-value (LTV) ratio from the present 70 percent.