Page 2 - முதூத்டு மினி நிதியாளர்கள் லிமிடெட் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Indian firms that lend against gold are cutting tenors and seeking more collateral to protect against the plunge in prices of the precious metal. Market leader Muthoot Finance Ltd. has been offering discounts on interest rates and other incentives to borrowers who chose to repay monthly or more frequently. Rival Muthoottu Mini Financiers Ltd. is mostly lending for 90 days now versus 270 previously, and most large firms are disbursing amounts well below regulatory limits, which was 75 per cent of the metal’s value for shadow lenders and 90 per cent for traditional banks through March 31. 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. Muthoot Finance, for instance, saw such lending increase 25 per cent over the period and the company holds 146 tons of gold, higher than the official reserves of Singapore and Sweden.

Mathew muthoottuRena kwokGeorge muthoot alexanderMuthoottu mini financiers ltdMuthoot finance ltdWorld gold council indiaMuthoot financeMuthoottu mini financiersMuthoottu miniBloomberg intelligenceMannapuram financeGold pricesGold loanPrecious metalManaging directorமேத்யூ முதூத்டு