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Source: Live Mint The gross non-performing assets (GNPAs) pertaining to gold loans in scheduled commercial banks (SCBs) and Upper and Middle-Layer non-banking financial companies (NBFCs) have increased by 18.14% from March 2024 to June 2024, according to a reply filed by the Ministry of Finance Read Full Article
Source: Live Mint If you face a temporary cash crunch and are in an urgent need of funds, you can use the gold sitting in your locker to tide over your cash flow issues. Banks and non-banking financial companies (NBFCs) offer gold loans for tenures as short as three months to as long as five…
Source: Live Mint The Reserve Bank of India (RBI) has identified significant gaps in gold loan disbursement practices, prompting major changes in the sector. Lenders are now shifting from traditional bullet repayment options to monthly Equated Monthly Instalments (EMIs) and term loans to address regulatory concerns, as per a report by Times of India. On…
Source: Business Standard 2 min read Last Updated : Oct 04 2024 | 2:07 PM IST Google India has announced a partnership with Muthoot Finance, a non-banking financial company (NBFC) specialising in gold loans. The partnership will provide gold-backed loans to small businesses and consumers, especially in rural areas, through Google Pay. …
Source: Business Standard Gold(Photo: Shutterstock) 3 min read Last Updated : Oct 03 2024 | 4:59 PM IST A Reserve Bank of India (RBI) circular has pointed out irregularities in granting loans against gold ornaments and jewellery. Following a review, the regulator identified shortcomings in loan sourcing and appraisal, valuation, due diligence, end-use monitoring, auction…
Source: Business Standard Manappuram Finance share price, Muthoot Share price after RBI directs gold financiers 3 min read Last Updated : Oct 01 2024 | 10:25 AM IST Muthoot Finance and Manappuram Finance shares declined up to 3.4 per cent intraday on the BSE on Tuesday. The shares slipped after the Reserve Bank of…
Source: Live Mint Following the recent lifting of RBI restrictions on its gold loan business, global brokerage house HSBC upgraded IIFL Finance stock to ‘hold’ from ‘reduce.’ HSBC also raised the stock’s target price to ₹540 from ₹350 earlier, implying an 8 percent upside potential. HSBC also upgraded its FY25-27 EPS estimates by 6 percent…
Source: Business Standard 2 min read Last Updated : Sep 25 2024 | 7:15 PM IST Cumulatively, organised gold loans offered by banks and non-banking finance companies (NBFCs) are set to top Rs 10 trillion in the current financial year (FY25) and will potentially touch Rs 15 trillion by March 2027, rating agency ICRA…
Source: Business Standard 4 min read Last Updated : Sep 25 2024 | 12:30 PM IST India’s organized gold loan market is poised to reach a new milestone, with rating agency Icra forecasting it to exceed Rs 10 trillion in the current financial year, and Rs 15 trillion by March 2027. Key Trends:…
