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Illustration for The Hiindu The story so far: The Reserve Bank of India (RBI) earlier this month asked gold loan lenders to stick to regulatory norms while lending in a bid to tighten its grip over Non-Banking Financial Companies (NBFCs). The RBI has increased its scrutiny of NBFCs after it found certain NBFCs to be…
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Offering loans against gold has become popular in the recent years due to ease of process, lesser documentation, rapid availability of funding, and a variety of repayment options. File | Photo Credit: Reuters Banks have instructed their branches to ensure that gold loans availed of by customers are repaid and closed, and not renewed or…
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