India's gold loan firms pare losses after RBI says not looking to tighten lending rules

IIFL Finance

09/04/2025 08:09

Updates

** Shares of Indian gold loan providers trim losses; Muthoot Finance MUTT.NS down 4.8%, IIFL Finance IIFL.NS down 2.5% and Manappuram Finance MNFL.NS dip 1.5%

** Reserve Bank Of India governor on Wednesday clarified that central bank is not looking to tighten gold loan rules

    ** In the monetary policy address on Wednesday,
    RBI chief had said that the central bank
     will issue comprehensive regulations on prudential norms and conduct-related aspects for gold loan providers

** MUTT fell as much as 12% after monetary policy speech, while IIFL lost as much as 8.3%

** Reuters reported last month that RBI plans to ask lenders to follow stricter underwriting processes for gold loans

** MUTT up 2.6% YTD, IIFL down 21% YTD.

** YTD, MNFL up 20%

(Reporting by Sethuraman NR in Bengaluru)

((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net/))