........First, the RBI imposed restrictions on gold imports and barred banks from bulk purchasing gold. Secondly, it restricted banks from lending against gold to less than 50 gram per person, and completely barred financiers from lending against gold mutual funds and exchange-traded funds. To make matters worse, gold prices have fallen over seven% in the last one year. That means existing borrowers would have to pay up more collateral. And newer borrowers will have to contend with a lot less in loan value...........
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