Gold finance companies up; RBI allows them as banking correspondents
Working as banking correspondents provides a strong fee income opportunity for these non-deposit-taking lenders
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An employee shows gold bangles to a customer at a jewellery showroom on the occasion of Dhanteras, a Hindu festival associated with Lakshmi, the goddess of wealth, at a market in Mumbai.
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.
Manappuram Finance Ltd
Working as banking correspondents provides a strong fee income opportunity for these non-deposit-taking lenders.
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First Published: Jun 25 2014 | 11:04 AM IST