The central bank highlighted that the weak monitoring of loan-to-value ratios, incorrect risk assessments, and lack of transparency in gold auctions led to such large-scale defaults.
New Delhi: Gold ornaments on display at a jewellery showroom on the Dhanteras festival, in New Delhi, Tuesday, Oct.29, 2024.
Many customers pledged gold to cover household expenses, education fees, and medical costs, only to find themselves unable to meet repayment demands.
The story "Sharp rise in gold loan defaults worries banks and NBFCs, increase by 30%" has 431 words across 22 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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