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Muthoot Finance Rs 2,000 crore public issue of NCDs opens on Tuesday

Muthoot Finance Rs 2,000 crore public issue of NCDs opens on Tuesday

Muthoot said funds raised through this issue will be utilised primarily for lending activities.

RRBs can now extend loan up to Rs 2 lakh against gold

RRBs can now extend loan up to Rs 2 lakh against gold

The Reserve Bank has doubled the quantum of loan against gold that could be granted by Regional Rural Banks (RRBs) to Rs 2 lakh, provided the repayment period does not exceed 12 months.

Good News! Now, get gold loan @ 4 paisa interest

Good News! Now, get gold loan @ 4 paisa interest

UAE Exchange India, the leading financial institution has launched a new gold loan offer for the loyal customers in this special festive season.

Muthoot Finance gets service tax notice for Rs 153 cr

Gold loan firm Muthoot Finance Monday said it has received a service tax notice demanding Rs 153.14 crore in taxes in addition to interest and penalty.

Cooperative banks allowed to double gold loan under bullet repayment

The Reserve Bank on Thursday doubled to Rs 2 lakh the amount of loan furnished by cooperative banks under the Gold Loan - Bullet Repayment scheme.

RBI relaxes norms for loans against gold ornaments

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

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

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

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

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

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

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

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.

Restriction on co-operative banks for loan against gold coins

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

SBI sees no stress in gold loan portfolio

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.

Stocks of gold loan companies, jewellery makers tumble

Shares of gold loan companies like Manappuram Finance and jewellery makers Monday fell sharply by up to over 13 percent, following weakness in gold prices which hit over 15-month low.

Federal Bank offers overdraft facility against gold loans

'Easy Gold', offers a debit card with an overdraft facility using which customers can withdraw money or use loan amount through any ATM or PoS (point of sale) terminals.

Gold loan firms setting up SRO as RBI tightens screws

Under the lens of the Reserve Bank, leading gold finance companies have decided to form a self-regulatory organisation (SRO) which will frame a fair business practices code for the industry.

Muthoot promoters may dilute 10% stake

Promoters of leading gold loan company Muthoot Finance may dilute their stake by up to 10 percent to raise funds in the next fiscal.

HDFC Bank launches gold loan product for rural market

The country's second largest private sector lender HDFC Bank Tuesday launched a rural segment focused gold loan product offering up to 140 percent finance on the value of the precious metal pledged.