Teena Jain Kaushal  <br/><br/>
Dark side of Gold Loans  

 - New Delhi   Living Media Ltd   2024 
 - Vol 33 No 10 Pg 46-51 
<br/><br/> The RBI asked the company to immediately stop its gold loan operations, which accounts for a third of its business. The reason the regulator found some major lapses in how company handled the gold loans. In February the association of Gold Loan Companies asked the RBI to investigate certain bank branches for breaking the rules governing how much money can be given against gold ornaments.The gold loans outstanding of banks and NBFC was 6.1 lakh crore as of F.Y. 23 per a Nirmal Bang report With the gold prices touching record highs, the demand for gold loan is expected to rise. Thus rules need to be tightened to protect small and underprivileged borrowers.  
<br/><br/><label>Subjects--Topical Terms: </label><br/>Gold Loan <br/>Financial Services <br/>RBI Regulation <br/>Loan to Value