Page 3 - Gold Loan

RBI lifts restrictions imposed on IIFL Finance's gold loan business

On March 4, 2024, the RBI imposed restrictions on IIFL Finance after observing deviations in assaying and certifying purity and net weight of gold at time of sanctioning loans and at time of auction

'Complex and expensive': Further tranches of sovereign gold bonds unlikely

The July Budget reduced the import duty on gold from 15 per cent to 6 per cent, lowering input costs for jewellers and deterring smugglers

Keep loan-to-value ratio for gold below 75% to avoid topping up collateral

Only borrow an amount that can be repaid comfortably. The ratio of total EMI to take-home salary should not exceed 40 per cent

Gold loan demand stays strong despite cash disbursement curbs: CRISIL

According to CRISIL, growth for gold-loan NBFCs has been supported by favourable movement in gold prices

IIFL Finance transfers stressed realty assets to ARC for Rs 575 crore

No plans to become BC for gold loan business

NBFCs' consumer, gold loan sanctions shrink sequentially in Q4FY24: FIDC

Personal loans also showed moderation, with sanctions by finance companies growing by just 1.4 per cent sequentially in Q4FY24

NBFCs' consumer, gold loan sanctions shrink QoQ in Q4 FY24 after RBI action

Regulator last year hiked risk weights for unsecured loans and put curbs on IIFL Finance, a large player in gold loan business

Gold price slips Rs 10, silver down Rs 100; yellow metal at Rs 72,370

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 66,490, Rs 66,340, and Rs 66,940, respectively

IIFL Finance Q4 results: Profit down 6% to Rs 430.6 cr on higher provisions

For FY24, its consolidated net profit rose by 23 per cent to Rs 1,974.2 crore from Rs 1,607.5 crore in FY23. Its NII rose by 38 per cent Y-o-Y to Rs 4,153.8 crore in FY24

Muthoot Finance diversifying loan book to make customers 'stick': MD

Firm will not sell gold loans to asset reconstruction companies as the RBI is 'not comfortable', says George Alexander Muthoot

RBI-appointed auditor completes the special audit of IIFL Finance

Finance firm facing curb on gold loan business

Muthoot Finance shares rise 4%, test record high post Q4; analysts upbeat

Muthoot Finance Q4: Muthoot Finance clocked its highest-ever consolidated loan asset under management (AUM) of Rs 89,079 crore in Q4FY24

Muthoot Finance Q4 results: Profit rises 17% to Rs 1,056 cr on loan growth

Muthoot's standalone loan assets under management increased 20% to Rs 75,827 crore for the year ended March 31

What will be the impact of the RBI's cash disbursal limit on gold loan?

The push for increased transparency and reduced cash transactions aligns well with the RBI's objectives, promoting a more secure and compliant lending environment

Muthoot FinCorp plans to reduce the share of its gold loan business

During the last financial year, the company reported its highest-ever loan disbursements with consolidated disbursements at Rs 61,703.26 crore, up by 18.60 per cent

Gold loan business is shining as regulatory scrutiny of sector grows

Recent RBI actions many increase companies' operational cost for but there is enough headroom for growth, say experts

RBI urges gold loan NBFCs to strictly comply with norms amid biz surge

RBI took stock of the gold loan business of non-banking finance companies after one of them - IIFL Finance faced regulatory restriction for violating norms

RBI's advisory will not affect Manappuram's business, says MD & CEO

The RBI recently advised NBFCs extending gold loans not to lend in cash exceeding Rs 20,000, citing the Income Tax Act

Muthoot Finance planning to raise funds using dollar-denominated bonds

Muthoot Finance is aiming to issue benchmark-sized bonds, which means the issuance will be around $500 mn

Muthoot Finance to raise Rs 500 crore through issue of five-year bonds

The company will pay an annual coupon of 9.03% on this issue and has invited commitment bids for the same on Thursday