06 Dec 2022
DiamondWorld Directory
-
Home |
News
Home
NBFCs happier on RBI easing lending amounts on pledged gold jewellery
The new rule allows upto 75 percent loan against pledged gold jewellery
By: Diamond World News Service
|
Jan 14 2014 2:18PM
|
Reference: 8720  

DecreaseIncrease
Non-banking financial companies (NBFCs) are happier now as the Reserve Bank of India has raised the amount of loan that they can offer against pledge of gold jewellery, reports say. From its earlier restriction of allowing these companies to lend only upto 60 percent of the value of the pledged gold jewellery, the new rule permits loan upto 75 percent, reports add.

Operators in this segment like Muthoot Finance and Manappuram Finance are optimistic of a growth in their lending business. With the RBI curtailing the value of loan o 60 percent in 2012, the business of Muthoot Finance had fallen almost 14 percent, to the unorganised sector, reports say.

The RBI noted that the value of the jewellery to ascertain the maximum permissible loan amount will pertain only to the intrinsic value of the gold content and no other cost elements should be added, reports suggest.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
 
*  Name:
 
*  Mobile:
 
*  Email:
 
 
Subscribe for DiamondWorld weekly Newsletter
 
Advertisement
DWWeeklypost
Search News by City
Advertisement
DWsubscription
Recent Issue
2022
AVAILABLE NOW...!
News in Pictures
Videos
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 32027
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 9533
GJEPC Chairman Interview
Views: 28132
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 39370
Promo for IJ Awards 2012 at NDTV Profit
Views: 57067
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 68562
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 21882
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 50927
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 53115
Advertisement
DWsubscription
Member of:
Supporter of: