Big change coming in gold loans? Soon, you may be able to repay in EMIs

Quick Summary:

The Reserve Bank of India (RBI) has identified irregularities in gold loan disbursements.

Lenders are now developing EMI options and term loan alternatives for gold-backed lending, moving away from the traditional bullet repayment method.

Crisil reports that bank-issued retail loans against gold jewellery grew 37% between April and August, coinciding with rising gold prices.

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Article Details

Author / Journalist: TOI Business Desk

Category: EconomyBusiness

Markets: IndiaAustraliaFinlandGermanyParaguay

Topics: Gold loan guidelines Gold loan growth Rbi Gold loans Business news Gold loan Gold loan lenders Gold loan emi

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-19 @ 17:40:59 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 842 words

Reading Time: 5 minutes read

Sentences: 35 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 23694713

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About Times of India

Main Topics: EconomyBusiness

Official Website: timesofindia.indiatimes.com

Update Frequency: 19 posts per day

Year Established: 1838

Headquarters: India

News Last Updated: 3 hours ago

Coverage Areas: India

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Publication Timezone: GMT +5:00

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News Language: English

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Publisher ID: #28

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