Reuters Market Eye - Shares of gold-based non-banking lenders slump after the Reserve Bank of India (RBI) said on Monday that it broadly accepted its working group's recommendations on non-banking financial companies lending against the collateral of gold jewellery.
Muthoot Finance Ltd
Traders say recommendations including prior approval of the RBI for opening branches in excess of 1,000 and standardization of value of gold in arriving at loan-to-value ratio are seen hurting the expansion of the companies over the long run.
(Reporting by Abhishek Vishnoi)
