Muthoot slows down gold loans after RBI norms

..... “RBI has formed a working group to analyse the impact of gold imports on financial stability and whether NBFCs extending gold loans have any role in influencing gold prices. The group is expected to submit its report by end-July 2012. We have also given our views to the working group. I’m sure that the apex bank will have a better understanding of the sector, once this report is submitted. We will wait till then before renewing our thrust on gold finance.”........

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