Gold loan cos set to lose sheen on RBI regulation
Monday, March 13, 2017, 11:11 AM
India's gold-loan companies are headed for subdued business after the central bank reduced to a fifth the upper limit on cash NBFC could advance to borrowers, temporarily brightening the prospects of unorganised pawnbrokers of jewellery. The RBI has now set the limit at Rs 20,000 against the earlier cap of Rs 100,000. Gold Association intends to appeal to the RBI to review the guideline.