Faced with the recent guidelines skewed in favour of nationalised banks, private gold loan companies (non-banking financial companies or NBFCs) have urged the Reserve Bank of India (RBI) to provide a level playing field. Through the Association of Gold Loan Companies (AGLC), headed by George Alexander Muthoot, managing director of Muthoot Finance, NBFCs have submitted a representation to RBI to reconsider its recent decision with regard to loan-to-value (LTV) and lending against gold coins.................
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