Thursday, March 22, 2012
LISTED GOLD LOAN COMPANIES LIKE MUTHOOT FINANCE AND MANAPPURAM MAY BE AFFECTED
The Reserve Bank of India (RBI) on Wednesday issued a notification directing all non-banking finance companies engaged in gold loan business to maintain a loan to value (LTV) ratio of 60%. This means, a borrower has to pledge gold jewellery worth Rs 100 to get a loan of Rs 60.
CMP of Muthoot is Rs.162.30 and Manappuram is Rs.45.30/-
To read the full notification ,Click HERE