Gold Loan

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

IIFL Finance Q3 profit up 15% at Rs 310 cr backed by home, gold loan biz

IIFL Finance on Friday reported 15 per cent increase in net profit at Rs 310 crore for December quarter 2021-22, backed by growth in home and gold loan businesses. The company had logged a net profit of Rs 269 crore in the year-ago period. Total income during the period under review rose to Rs 1,071 crore from Rs 919 crore in the year-ago quarter. IIFL loan assets under management grew 11 per cent year-on-year driven by sustained growth in home loan and gold loan businesses, the company said in a release. The non-banking financial company said it has a liquidity comfort at an all-time high at Rs 9,145 crore, which is adequate to meet not only all near-term liabilities but also to fund the growth momentum. "Our annualized ROE (return on equity) remained above 20 per cent and ROA (return on assets) above 2.5 per cent. With ongoing expansion, operating cost grew 9 per cent quarter-on-quarter," it said. As of December 31, 2021, the AUM of the company stood at Rs 46,780 crore, with ho

Spandana Sphoorty probing issues at gold branches of subsidiary: Committee

Company appoints Shalabh Saxena as new MD&CEO, says it is probing IT management contract given by former executive.

State-owned Punjab National Bank reduces gold loan rates

PNB is also offering a full waiver of service charges/processing fee on the loans against gold jewellery and SGB, similar to home loans and vehicle loans announced recently

Gold loans firms' FY22 book to grow at 18-20% on tiny biz demand: Crisil

Working capital needs drive uptick in demand; gold loans taken by individuals support uptrend

Gold loans likely to recover in the second quarter, says CSB Bank

The gold loan portfolios of banks widened last year after the RBI allowed banks to offer 90% of the value of gold loans from 75%

CSB Bank gains 7%, hits record high post June quarter business update

CSB Bank reported a 3.5 per cent QoQ decline in gross advances to Rs 14,146 crore

Muthoot Finance Q4 net profit up 22% at Rs 996 cr; loan assets up 27%

Gold loan finance company Muthoot Finance Ltd (MFIN) on Wednesday reported a 22 per cent jump in standalone profit after tax at Rs 996 crore for the three months to March 2021.

Manappuram Finance consolidated Q4 net up 17.6% to Rs 468 cr, NII up 7.2%

Mulls listing of MFI subsidiary

Cash-strapped patients with Covid-19 infection can consider loans

In a health emergency, speed of disbursement is more important than cost

India gold lenders cut tenor, seek more collateral as prices plunge

Gold loans had boomed over the past year as small businesses tried to revive themselves from lockdowns by pledging family jewelry that's a staple of almost all Indian households

Will gold loan lose its sheen?

In August 2020, when RBI raised the LTV for gold loans to 90 per cent, effective till March 2021, gold price was at a record high. It's time to pare the LTV for de-risking the lenders

Muthoot Finance chairman Mathai George Muthoot passes away at 71

MG George Muthoot, the chairman of Muthoot Finance which is the largest gold loan NBFC in the country, passed away this evening in his New Delhi home after a fall, according to the family.

Planning to take a gold loan? Put up extra collateral if demanded by lender

If LTV ratio on your loan exceeds the regulatory cap, lender can sell pledged gold to recover dues

Muthoot Finance Q3 profit up 17% to Rs 1,006 cr, revenue rises 16%

Consolidated loan assets of the group grew 28% to Rs 55,800 cr during nine months of 2020-21

Facing credit card woes amid pandemic? Look for lower-cost credit options

Defaulting on card dues could restrict access to credit in future

FIDC seeks parity for gold loan NBFCs with banks on loan-to-value ratio

By limiting applicability to banks, a vulnerable section of the population is punished by exclusion, the Council says