RBI launches five-part documentary series titled 'RBI Unlocked: Beyond the Rupee'
The Reserve Bank of India, in collaboration with JioHotstar, has launched a five-part documentary series titled RBI Unlocked: Beyond the Rupee. The project has been produced by Chalkboard Entertainment. The project was commissioned by RBI to visually document its 90-year history, with the objective of creating awareness about its various functions and roles. The RBI, as a full-service central bank, performs a wide range of functions including currency management, monetary policy, regulation and supervision of banks and NBFCs, regulation of currency and interest rate, markets and payment and settlement systems, and financial inclusion. This documentary portrays the essence of RBIs functions in an intelligible manner to a wider demographic of people, RBI noted. Powered by Capital Market - Live News
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The Hindu
20 minutes ago
- The Hindu
RBI's gold loan direction brings clarity, standardisation, greater consumer protection, says Manappuram Finance MD
'The 'Lending Against Gold and Silver Collateral Directions, 2025' notified by the Reserve Bank of India (RBI) on Friday has brought clarity, standardisation, and greater consumer protection to the gold and silver loan segment, said V. P. Nandakumar, Managing Director and CEO of Manappuram Finance Ltd. 'The guidelines on valuation, assaying, and loan-to-value (LTV) ratios are timely and progressive. In particular, the provision allowing a maximum LTV ratio of 85% for loans amount up to ₹2.5 lakh. It will significantly benefit small-ticket borrowers,' he said. Stating that the new directions have consolidated and replaced earlier circulars, he said these have create a uniform code applicable to all regulated entities, including NBFCs, banks, and cooperative institutions. 'These guidelines aim to promote transparency, ethical practices, and prudential discipline while enhancing financial access for individuals and micro-enterprises,' he said. Highlighting that the continued eligibility of gold jewellery, ornaments, and coins as collateral reflected the RBI's recognition of the critical role of gold loans in meeting short-term liquidity needs, he said the standardised assaying process—mandating borrower presence and use of reference prices from the Indian Bullion and Jewellers Association (IBJA) or SEBI-regulated exchanges—would foster uniformity across the industry. 'Manappuram Finance has long adhered to rigorous valuation norms, and we view this framework as an endorsement of our transparent and ethical lending model,' he emphasised. On the revised LTV guidelines, Mr Nandakumar said, 'The RBI has prudently capped LTVs at 85% for loans up to ₹2.5 lakh, 80% for loans between ₹2.5 and ₹5 lakh, and 75% for loans above ₹5 lakh. These thresholds strike a balance between borrower access and systemic stability. We are fully aligned with these stipulations and will implement them rigorously.' Regarding bullet repayment loans, he acknowledged the RBI's cap of 12 months for such loans, with renewals allowed only upon creditworthiness and interest repayment. On the customer conduct and protection norms, he said, 'The emphasis on clear documentation, borrower communication, and transparent auction procedures aligns with our customer-first approach. We already involve borrowers in the assaying process and provide detailed disclosures in loan agreements, and these practices will continue.' On collateral management, he said, 'We place the utmost importance on secure storage, stringent internal audits, and surprise verifications. The RBI's directives reinforce our long-standing commitment to safeguarding customer assets.' Welcoming the RBI's provisions for fair compensation in the event of loss, damage, or delayed return of pledged assets, and its emphasis on disbursing loans directly into verified bank accounts in compliance with KYC and Income Tax Act provisions, he said' These directions reflect the regulator's focus on integrity, accountability, and customer rights. 'We are fully prepared to implement the new guidelines well ahead of the April 2026 deadline. We believe this framework will further bolster public trust in gold loans as a reliable and responsible source of credit,' he stated.
News18
33 minutes ago
- News18
New RBI Gold Loan Rules: LTV Ratio Raised To Cap Limit; Do's And Don'ts Explained
Last Updated: New RBI Gold Loan Rule Changes: Customers can secure collateral loans only against gold and silver jewellery, ornaments, and coins. New RBI Gold Loan Rule Changes: The Reserve Bank of India (RBI) has issued directives on lending against gold and silver collateral. The new directives aim to harmonise and strengthen rules for loans backed by gold and silver jewellery, ornaments, or coins across all regulated entities (REs), while preventing misuse and ensuring borrower protection. The new rules apply to commercial banks (except Payment Banks), cooperative banks (Urban Cooperative Banks, State Cooperative Banks, Central Cooperative Banks), Non-Banking Financial Companies (NBFCs), and Housing Finance Companies (HFCs). As announced by RBI Deputy Governor Sanjay Malhotra, the Loan-To-Value (LTV) ratio for small gold loans has been increased to 85%, from the earlier proposed 75%. Moreover, the LTV must be maintained throughout the loan term. Customers can secure collateral loans only against gold and silver jewellery, ornaments, and coins. Loans against primary gold/silver (such as bullion) or related Exchange Traded Funds (ETFs)/Mutual Funds (MFs) are restricted. New rules also stipulate valuation norms, including those based on the 30-day average or previous day's price (whichever is lower), purity-based pricing as published by the India Bullion and Jewellers Association (IBJA) or Securities and Exchange Board of India (SEBI)-approved exchanges. Only the intrinsic metal value is considered – gems and stones are excluded. Borrowers must be present during assaying, and the assay certificate must be shared and documented. Loan agreements must include auction procedures and ensure cost transparency. What Kind of Loans Can You Take? One can opt for loans for consumption or income generation purposes. Bullet loans for consumption are capped at 12 months. The maximum gold loan limit per borrower is 1 kg of ornaments and 50 g of coins. How to Handle Collateral The lender must store collateral in secure, employee-managed branches. It must be returned within seven working days of loan repayment. If a borrower defaults on the loan, the auction process must be transparent – first locally, then online. There is a fine of Rs 5,000 per day if a lender delays releasing collateral. There is also a provision for full repair or replacement in case of loss or damage to pledged items. Other Key Points Misleading gold loan advertisements are prohibited. Know Your Customer (KYC) and Anti-Money Laundering (AML) norms must be followed. Unclaimed collateral (two or more years after repayment) must be reported bi-annually. About the Author Varun Yadav Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian More First Published:
The Hindu
2 hours ago
- The Hindu
Co-Op bank focussing on Vijayawada keeping in view of Amaravati as capital
Visakhapatnam Cooperative Bank chairman Chalasani Raghavendra Rao on Saturday (June 7) said they will open five more branches this year. They are also planning to construct buildings to set up branches in Vijayawada owing to its proximity to the capital Amaravati. He said that proposals will be sent to the Reserve Bank of India to grant scheduled status to the bank, which is currently in a non-scheduled status. Mr. Raghavendra Rao said they are targeting to reach transactions worth ₹8,600 crore in financial year 2025-26, against ₹7,800 crore registered in financial year 2024-25. Speaking to media persons, Mr. Raghavendra Rao explained that compared with scheduled banks, his bank is performing better than most in many aspects. On the bank's performance in 2024-25, he said the bank has achieved a net profit of ₹71.77 crore as on March 31. He said there are 1,11,593 members in 55 branches and deposits of ₹4,354.73 crore with a share capital of ₹389.55 crore. He said 95% of the loans of ₹3,436.47 crore have been disbursed and that the bank is providing services to 1.30 lakh borrowers. Mr. Rao said the 110th Mahajana Sabha will be held at Kakatiya Convention Hall on Sunday and dividends will also be declared on the occasion. Bank directors Suryaneni Nagabhushana Chowdhary, A.J. Stalin, J.V. Satyanarayana Murthy, Gullapalli Janardhana Rao, Uppalapati Parvathi Devi, A. Ramakrishna Rao, Emani Avani, P.V. Narasimha Murthy, Ramamurthy Vaidyanathan, and CEO VVB Varalakshmi were present.
