NEWS & ADVICE : PERSONAL LOAN
Lending norms for gold loan firms get stringent
By Vaibhav Aggarwal
Mar 23, 2012
Print    Email    RSS   

Banking and monetary regulator, Reserve Bank of India has announced more stringent lending norms for companies in the gold loan business.

The gold loan business is predominantly handled by non banking finance companies (NBFCs) in India.

Following the new directive from the apex bank, gold loan business may face some growth laggard, said the head of a big gold loan player.

The margins of 9-10% which these firms had been maintaining since the past few years may now see a dip by as much as 100 bps, they apprehend.

According to Mr George Alexander Muthoot, Managing Director, Muthoot Finance, the step taken by RBI may hinder new players from entering into this segment in loan business.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
What to look for while taking a personal loan
Carnival of Indian Personal Finance Blogs # 7
How to decide on a loan for business?
Man caught for committing bank fraud
Carnival of Indian Personal Finance Blogs #6


i want to get my credit report what should i do?
how to creat new login id for getting cibil score,i...
my personal loan application was acceptet by hdfc...
My loan was rejected and my name was added to civil...
MY PAN CARD AEAPA6099R HOW TO CKECK PERSONNEL LOAN...
I want to know weather my name is listed in cibil...

NEWS THIS WEEK
Canara Bank tied up with the SFAC organization to support farmers Aug 29, 2014
ICICI bank working on increasing banking services Aug 25, 2014
Karnataka Bank tied up with NBHC to help farmers Aug 22, 2014
HDFC bank topped the most valuable brand list Aug 20, 2014
Now 3 free transactions from non home ATMs will be allowed Aug 19, 2014
News Archive