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Gold loan News

IIFL Finance Limited

20 Sep 2024

RBI Lifts Restrictions On The Gold Loan Business Of IIFL Finance Limited

These restrictions were earlier imposed on March 04, 2024, which prohibited the Company from sanctioning, disbursing, or assigning/securitising/selling any of its gold loans.

29 Jul 2024

Muthoot Fincorp Introduces Vyapar Vikas Gold Loan For Traders

Under Muthoot Fincorp Vyapar Vikas Gold Loan, the interest is calculated on a diminishing balance basis, ensuring that borrowers only pay interest on the outstanding amount.

06 Oct 2023

Gold Loan Under Bullet Payment Scheme Doubled To Rs 4 Lakh, Says RBI

RBI has said that it will issue a detailed guideline regarding the matter separately.

Non Resident Indian

27 Sep 2022

ATTENTION NRIs! Paying gold loan EMIs for your relatives back home gets easier

Muthoot Finance has signed a Memorandum of Understanding with UAE-based Lulu International Exchange NRIs can deposit gold loan EMIs with Lulu International Exchange There are over four lakh NRIs in the UAE

29 Dec 2021

Enormous scope for gold loan lending for NBFCs, banks: Muthoot Finance MD

George Alexander Muthoot, MD, Muthoot Finance said, as the nascent economic recovery slowly takes roots, 2022 will be an important year to watch out for amidst the challenges posed by new Covid variants.

State Bank of India

17 Aug 2021

Good news for SBI customers! Get interest concession of 0.75% on Gold loan

It's raining offers on SBI. Get gold loan at 7.5% p.a. Loan available on all SBI channels.

19 Jul 2021

Gold Loan vs. Personal Loan: Which Is Better?

Below we’ve provided a comprehensive comparison of personal loans and gold loans so that you can make an informed decision on which would be better during an emergency.

24 Apr 2021

These banks are offering gold loans at lowest interest rates

Punjab and Sind Bank is offering the lowest interest rate among other banks at 7%. The Bank of India is providing gold loans at a 7.35% interest rate. Gold is selling at Rs 9000 lower than its all-time high.

09 Oct 2020

HDFC's bumper offer to rural customers on tractor, 2-wheeler, Kisan gold loans

HDFC Bank offering illustrative benefits to rural customers. Offers for retail as well as business customers. HDFC tapped over 3,000+ hyperlocal merchants and traders.

12 Aug 2020

RBI hikes loan to value ratio limit on gold loans to mitigate COVID-19 impact

Earlier, loans sanctioned by banks against pledge of gold ornaments and jewellery for non-agricultural purposes would not exceed 75 per cent of the value of gold ornaments and jewellery. RBI has now decided to increase the permissible loan to value ratio (LTV) for such loans to 90 per cent. This relaxation shall be available till March 31, 2021.

02 Jul 2018

Bank refuses to return pledged gold citing Re 1 default

The petitioner said he had taken a loan of Rs 1.23 lakh from the bank by pledging 131 grams of gold jewellery on April 6, 2010.

07 Apr 2017

Muthoot Finance Rs 2,000 crore public issue of NCDs opens on Tuesday

Muthoot said funds raised through this issue will be utilised primarily for lending activities.

17 Feb 2017

RRBs can now extend loan up to Rs 2 lakh against gold

The Reserve Bank has doubled the quantum of loan against gold that could be granted by Regional Rural Banks (RRBs) to Rs 2 lakh, provided the repayment period does not exceed 12 months.

08 Sep 2016

Good News! Now, get gold loan @ 4 paisa interest

UAE Exchange India, the leading financial institution has launched a new gold loan offer for the loyal customers in this special festive season.

Muthoot Finance

19 Jan 2015

Muthoot Finance gets service tax notice for Rs 153 cr

Gold loan firm Muthoot Finance Monday said it has received a service tax notice demanding Rs 153.14 crore in taxes in addition to interest and penalty.

08 Jan 2015

Cooperative banks allowed to double gold loan under bullet repayment

The Reserve Bank on Thursday doubled to Rs 2 lakh the amount of loan furnished by cooperative banks under the Gold Loan - Bullet Repayment scheme.

22 Jul 2014

RBI relaxes norms for loans against gold ornaments

The Reserve Bank on Tuesday relaxed the limit of loan that banks can sanction against the pledging of gold ornaments and jewellery.

25 Jun 2014

Gold finance companies up: RBI allows them as banking correspondents

Shares of finance companies which provide loans against gold rally after the RBI on Tuesday allowed banks to engage non-deposit-taking non-banking finance companies as banking correspondents for financial inclusion.

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