Page 5 - Gold Loan

Gold will remain very important for next 2-3 years: CSB Bank MD Mondal

If you look at it, gold has exactly grown in line with our bank growth, bank has grown by 23 per cent and gold has also grown by 23 per cent on a Y-o-Y basis, Pralay Mondal said

Gold loan financiers get a thumbs up from stock market investors

RBI's latest move raising risk weights on loans is likely to hurt sentiment towards Muthoot and Manappuram

Monetary policy: UCB gold loan limit, CoF tokenisation facility, and more

RBI has allowed NBFCs in the middle and base layer to offset their exposures with eligible credit risk transfer instruments

RBI doubles bullet repayment gold loan limits for urban co-op banks

The Reserve Bank of India on Friday announced doubling the lending limits for gold loans under the bullet repayment scheme for urban cooperative banks to Rs 4 lakh. "It has been decided to increase the existing limit for gold loans under the bullet repayment scheme from Rs 2 lakh to Rs 4 lakh in respect of Urban Cooperative Banks (UCBs) who have met the overall target and sub-targets under the Priority Sector Lending (PSL) as on March 31, 2023," RBI Governor Shaktikanta Das said. A bullet repayment scheme is one where a borrower repays interest and the principal amount at the end of a loan tenure without worrying about repayment during the loan tenure. Das, who had a meeting with top brass of UCBs recently, said the measure is in line with the RBI's earlier announcement of providing "suitable incentives" to UCBs that have met the prescribed PSL targets, wherein a lender is mandated to devote a certain part of its overall lending for the marginalised sector. Speaking after announcin

Banks ask RBI to frame policy for silver loans similar to gold metal loans

Under the current Gold Monetisation Scheme, 2015, banks can give gold loans to jewellery exporters or domestic makers. The loan, equivalent to the value of gold borrowed, needs to be repaid in rupees

Muthoot Finance misses Q4 profit view amid weak macroeconomic environment

The gold loan industry has continued to benefit from a surge in the metal's prices amid an increase in safe-haven investment in gold due to market volatility

Gold spot of bother: Little sparkle for financiers despite tailwinds

Increased competition, lower spreads, moderate growth are among hurdles to overcome

Record gold price may not bring back sheen in Muthoot, Manappuram: Analysts

Analysts believe the continued aggression of banks and fintechs would make gold loan NBFCs pivot their business models to lower spreads and margin

SBI personal banking loan book up Rs-5 trn mark, helped by digital push

Next Rs one trillion of non-home retail loans by Q3FY24

DBS Bank India seeks three-fold jump in gold loan portfolio in 5 yrs: Exec

Lender's amalgamation with Lakshmi Vilas Bank expanded its reach in South India

Cash-for-gold lender Muthoot Finance joins trend shunning new dollar debt

Muthoot Finance Ltd. is extending a trend in emerging Asia that's dragged down bond issuance in the US currency to its lowest since 2015

Muthoottu Mini looks at 60% sales growth this fiscal at Rs 4,000 cr

Gold loan player Muthoottu Mini Financiers is looking to grow its loan sales by over 60 per cent in this fiscal to around Rs 4,000 crore as it embarks on a faster expansion

IDBI Bank's gold loan business crosses Rs 10,000-crore milestone

IDBI Bank on Tuesday said its gold loan portfolio has crossed a Rs 10,000 crore milestone.

Canara Bank crosses Rs 1 trn mark for outstanding gold loan book in June

Canara Bank is pushing this business in Eastern region and two metropolitan areas - Mumbai and Pune

SBI to scale up gold loan business, start premium banking services

SBI agriculture cold loan portfolio increased to Rs 73,601 crore in FY22 from Rs 66,878 crore in FY2021 and personal segment, the gold loans book expanded by 9.89 per cent YoY to Rs 23,063 crore

Muthoot Finance Q4 profit slides to Rs 1,006 cr as interest income falls

The interest income was down by 3.7 per cent at Rs 2,916.87 crore from Rs 3,029.83 crore in the year-ago period.

Gold loan: Low-cost option and credit score no bar, say experts

If the price of gold plunges, a borrower can be asked to put up additional collateral

BharatPe enters gold loan segment; eyes disbursals of Rs 500 cr this year

For launching gold loans, BharatPe has partnered with a few NBFCs, and will be offering loans of up to Rs 20 lakh against gold pledge

Capri Global Capital to enter gold loan business in first half of FY23

NBFC Capri Global Capital Ltd (CGCL) said it is planning to enter the gold loan business in the first half of the financial year 2022-23.

Manappuram, Muthoot Finance: Growth concerns weigh on near-term outlook

Analysts have cut earnings growth forecast but see the stocks giving up to 34.4 per cent (Muthoot) and 58.7 per cent (Manappuram) returns on attractive valuation