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Positive First-Quarter Data Point To A Global, Sustained Economic Boom
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India Gold Lenders Cut Duration, Seek Additional Guarantees Due To Price Fall

Gold loans had boomed over the past year as small businesses tried to revive themselves Indian companies 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 has been offering discounts on interest rates and other incentives to borrowers who chose to repay monthly or more frequently. Rival Muthoottu Mini Financiers 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.

Mathew muthoottuRena kwokGeorge muthoot alexanderWorld gold council indiaGold lenders cut loan durationMuthoot financeMuthoottu mini financiersMuthoottu miniBloomberg intelligenceMannapuram financeGold lendersமேத்யூ முதூத்டுரெனா க்குவோக்ஜார்ஜ் முத்ூட் அலெக்சாண்டர்உலகம் தங்கம் சபை இந்தியாதங்கம் கடன் வழங்குநர்கள் வெட்டு கடன் காலம்

Indian gold lenders reduce tenure, seek bigger collateral as price falls

Indian gold lenders reduce tenure, seek bigger collateral as price falls SECTIONS Last Updated: Apr 05, 2021, 07:22 AM IST Share Synopsis 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. Agencies The gold loan segment’s bad-loan ratio is about 1% compared with 7.5% for the entire banking sector. Related By Suvashree Ghosh and Swansy Afonso Indian firms that lend against gold are cutting tenures 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% of the metal’s value for shadow le

Mathew muthoottuRena kwokSuvashree ghoshSwansy afonsoGeorge muthoot alexanderMuthoottu mini financiers ltdWorld gold council indiaMuthoottu mini financiersMuthoottu miniBloomberg intelligenceMannapuram financeMuthoot financeGold loanGold priceGold rateமேத்யூ முதூத்டு

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

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

India Gold Lenders Cut Tenor, Watch Collateral on Price Fall

India Gold Lenders Cut Tenor, Watch Collateral on Price Fall Bloomberg 4/5/2021 (Bloomberg) 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% of the metal’s value for shadow lenders and 90% for traditional banks through March 31.

Mathew muthoottuRena kwokGeorge muthoot alexanderMuthoottu mini financiers ltdMuthoot finance ltdWorld gold council indiaMuthoot financeMuthoottu mini financiersBloomberg goldMuthoottu miniBloomberg intelligenceMannapuram financeமேத்யூ முதூத்டுரெனா க்குவோக்ஜார்ஜ் முத்ூட் அலெக்சாண்டர்முதூத்டு மினி நிதியாளர்கள் லிமிடெட்