The Reserve Bank of India (RBI) has recently issued an advisory to non-banking financial companies (NBFCs) to strictly adhere to the Rs 20,000 cash disbursal limit for gold loans. This move is aimed ...
New Delhi, May 9 (PTI) The Reserve Bank has asked NBFC firms not to disburse cash component in excess of Rs 20,000 on loans against gold in line with the Income Tax laws. In an advisory issued to ...
The RBI advisory letter had led shares of Manappuram Finance and Muthoot Finance to slump up to 8 percent on May 9. Manappuram closed 7.36 percent lower at Rs 166.85 apiece on BSE.
The Reserve Bank of India (RBI) has asked non-banking financial companies (NBFCs) to strictly comply with norms regarding loan-to-value ratio, auction processes, and cash disbursement after ...
The RBI's advisory brings much-needed clarity to the cash disbursement process in the gold loan segment. By setting a specific limit of ₹20,000, the regulator aims to streamline transactions and ...
Bank Loans: The Reserve Bank of India has issued a caution to non-bank finance companies, advising them against becoming overly reliant on algorithm-based credit models. RBI Deputy Governor ...
Mumbai, The Reserve Bank on Thursday tightened norms for unsecured personal loans for banks and non-banking financial companies. The revised norms wherein risk weights have been increased by 25 ...
"While automation can enhance efficiency and scalability, NBFCs should not allow themselves to be blinded by these models. It is crucial to recognise that rule-based credit engines are only as ...
BT came across many cases where gold loans were offered in cash above the limit of Rs 20,000 set by the RBI. It appears that some firms made use of a regulatory arbitrage between the rules of the ...
The amount of cash in circulation in India has more than doubled since the year of demonetisation and the launch of UPI, despite the removal of Rs 2000 notes. Cash payments remain a vital ...