The RBI says banks and NBFCs must closely monitor gold loan portfolio, especially in light of significant growth in this segment; non-compliance to attract supervisory action after three months
The company will issue 4.23 crore rights shares at ₹300 per share, a 28.9% discount to the last closing price of ₹421.70 apiece on the BSE.
Jefferies has downgraded IIFL Finance to ‘Hold’ from ‘Buy’, while cutting its target price to ₹435 from ₹765 estimated earlier.
Rise in income levels and economic uncertainties to aid consumption of yellow metal.
The ₹1,092 crore IPO of Fedbank Financial Services will open for subscription on November 22.
Gold loan companies are auctioning the pledged gold more and more, indicating dire financial conditions of households and small businesses, despite GDP growth.
India’s household assets are on the decline, inequality in both income and wealth is rising and nearly half of rural households are relying on low-paying manual labour for sustenance.
Prolonged cheap credit regime has led to a clear liquidity trap and irrational stock market boom, both of which are bad for the economy.
