Last Updated: Sunday, July 14, 2013, 17:47
The largest pure-play gold mortgage player Muthoot Finance, which has applied for banking licence, has said it can easily launch commercial lending business with as many as 2,000 branches.
Last Updated: Friday, May 03, 2013, 15:39
The Reserve Bank also restricted the lending against gold coins up to 50 grams only.
Last Updated: Sunday, April 28, 2013, 18:35
"We will remain cautious, but will continue to lend to the segment and achieve a growth of 15-18 percent," Managing Director Shyam Srinivasan said over the weekend.
Last Updated: Monday, April 22, 2013, 20:08
AGLOC, an umbrella body of gold-loan companies, Monday said the current fall in price of yellow metal will not have any impact on the loan portfolios.
Last Updated: Wednesday, March 06, 2013, 16:38
While neither the exact value of the gold ornaments being auctioned, nor the outstanding loans, could be ascertained, an equivalent amount of gold would be worth over Rs seven crore at the current price.
Last Updated: Wednesday, February 06, 2013, 16:13
Currently, banks account for about 60 percent of the total gold import.
Last Updated: Monday, January 07, 2013, 17:40
The proposal by the Reserve Bank to increase the loan to value (LTV) ratio to 75 percent from the present 60 percent is likely to help gold loan companies increase their business volume at a reasonable rate, says a report by rating agency ICRA.
Last Updated: Sunday, October 21, 2012, 17:36
Urban cooperative lender Greater Bank, which has touched Rs 100-crore mark in lending against gold jewellery business, aims to double its portfolio in the segment in the next 12 months.
Last Updated: Tuesday, September 11, 2012, 21:25
The country's largest gold loan player Muthoot Finance, which is aiming to raise up to Rs 500 crore debt, on Tuesday said it has gone slow on asset acquisition this year as a result of regulatory concerns over the lending-against-gold model.
Last Updated: Saturday, September 08, 2012, 14:56
'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.
Last Updated: Thursday, March 22, 2012, 22:02
The RBI's recent guidelines for the gold loan sector will significantly moderate the growth and profitability over the next year, said a Crisil report.
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