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
Carnival of Indian Personal Finance Blogs #6
Need of Financial inclusion: making the...
Do rising NPAs reflect an ailing banking...
How to decide on a loan for business?
Know about Personal loan against fixed...


my personal loan account number 4180PL00220676. SO...
myaccount no is 4180000101519899
what is my current cibil score
i want to get my credit report what should i do?
My loan was rejected and my name was added to civil...
MY PAN CARD AEAPA6099R HOW TO CKECK PERSONNEL LOAN...

NEWS THIS WEEK
One Time Settlement Scheme by SBH bank Sep 19, 2014
Banks asked RBI to cut down rates Sep 17, 2014
J&K bank reopened 149 branches in J&K Sep 15, 2014
SBM tied up with RML services Sep 11, 2014
Some Indian bank branches may face closure in UK Sep 10, 2014
News Archive