Finance Ministry recommendations on gold loan norms ‘progressive step’: Muthoot Finance MD
The Hindu
Muthoot Finance MD praises Finance Ministry recommendations on RBI gold loan norms, boosting NBFC shares on BSE.
The recommendations made by the Department of Financial Services, under the Union Finance Ministry, on the Reserve Bank of India’s draft gold loan norms mark a progressive step towards balancing regulatory oversight with financial inclusion, Alexander Muthoot, Managing Director, Muthoot Finance, said.
The phased implementation timeline and exemption for gold loans below ₹2 lakh reflect a deep understanding of the socio-economic realities of India’s underserved and rural borrowers — who largely depend on gold-backed credit for livelihood, education, and emergencies, he said in a statement.
Shares of gold loan non-banking finance companies rose on Friday (May 30, 2025), after the Finance Ministry recommendations.
Muthoot Finance shares rose over 6% to ₹2,200, while Manappuram Finance shares rose nearly 3% to ₹238 on the Bombay Stock Exchange (BSE).
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