Muthoot Finance, Manappuram Shares Fall As RBI Flags Irregular Practices Among Gold Loan Lenders
Gold loan financier stocks were trading mixed on Tuesday after the Reserve Bank of India flagged irregular practices among some supervised entities in granting loans against pledged gold ornaments and jewellery.
Muthoot Finance shares fell as much as 3.71%, Manappuram Finance declined 3.45%, while Cholamandalam Finance rose 2.51%, and IIFL Finance gained 4.26%.
The RBI found major deficiencies, including reliance on third parties for sourcing and appraising loans, valuation of gold without customer presence, and lack of due diligence and end-use monitoring. Issues such as lack of transparency during auctions and weaknesses in loan-to-value monitoring were also highlighted.
The RBI has instructed lenders to submit an action report within three months and warned that noncompliance would attract supervisory action. It also advised lenders to closely monitor their gold loan portfolios and ensure adequate controls over outsourced activities. The move comes amid rising concerns over gold loan businesses, with the RBI recently lifting restrictions on IIFL Finance's gold lending, previously imposed due to compliance issues.
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High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
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Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
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Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
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Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
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Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
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India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
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France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
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You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
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Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
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FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
