DFS proposes exemption for gold loans under Rs 2 lakh, easing regulatory pressure

DFS proposes exemption for gold loans under Rs 2 lakh, easing regulatory pressure

ET Intelligence Group: A recommendation by the department of financial services (DFS) on Friday to exempt gold loans with ticket size below ₹2 lakh from the RBI’s proposed guidelines will significantly reduce regulatory pressure on gold loan companies. The exemption, if approved, is expected to shield nearly 80% of the customers of gold loan companies … Read more

Small borrowers raise their loan targets as gold prices shoot through the roof

Small borrowers raise their loan targets as gold prices shoot through the roof

MUMBAI: Banks shut their doors on small businesses; gold loan companies have laid out a red carpet for them. With gold hitting a record high, many small and medium enterprise (SME) owners are finding that their family stock of the yellow metal is excellent collateral. There’s been a 30-35% rise in daily gold loan applications … Read more