Tuesday, March 27, 2012

RBI asks gold loan cos to comply with KYC norms

Tightening the regulations for gold loan companies further, the Reserve Bank of India has asked non-banking finance companies (NBFCs) engaged in the gold loan business to put in place board-approved policy to ensure that KYC (know your customer) guidelines are complied with and adequate due diligence is carried out before extending any loan. ................

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