Gold loans: The Reserve Bank of India (RBI) is preparing to implement stricter underwriting standards for gold loans, urging both banks and non-bank financial institutions to enhance their background checks on borrowers. This initiative aims to ensure that financial entities adhere to standard protocols amidst a 50% rise in gold loans since September 2024, news … Read more
Gold loans have become a favoured financial solution for individuals requiring immediate access to funds. Unlike personal loans, which usually demand extensive documentation and credit checks, gold loans offer a swift alternative as they are secured by the gold itself. Regulated by the Reserve Bank of India (RBI), these loans allow banks and Non-Banking Financial … Read more
Gold loans: Banks and gold loan companies are looking to implement monthly amortisation plans following concerns raised by the Reserve Bank of India (RBI) regarding deficiencies in gold loan disbursements. According to a report by the Economic Times, borrowers may soon be required to begin making interest and principal payments through EMIs immediately upon loan … Read more