The release of Reserve Bank of India's (RBI) KUB Rao committee report on gold has brought a breath of fresh air. The awareness of gold loans had grown well beyond the south and gold loan
players, especially the biggies, have been growing at a brisk pace. The
RBI had some concerns, which it laid down with a slew of measures it
deemed fit. While these were more of hygiene factors, what
followed was a dialogue between the gold loan players and the regulator
to explain the business model, risk management
measures, the role the sector played in financial inclusion and the
sector's efforts to address customers, who even today are being
exploited by moneylenders and pawnbrokers. The Rao committee's
recommendations reiterate this and articulate a perfect mix of what it
feels about the sector and what it is expected to do going forward...........
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