Latest news with #AgainstGoldCollateral
The Hindu
3 days ago
- Business
- The Hindu
T.N. CM Stalin welcomes reconsideration of gold loan rules, urges Centre to consult States on key policy changes
Tamil Nadu Chief Minister M.K. Stalin on Friday (May 30, 2025) appreciated the Centre for considering his concerns regarding the proposed restrictions in the Reserve Bank of India's (Lending Against Gold Collateral) Directions, 2025. He added that such policies should be framed only after prior consultations with the States. In a post on X, Mr. Stalin said: 'Glad to note that @FinMinIndia has responded to the concerns raised by me in my letter to the Hon'ble Union Finance Minister regarding @RBI's draft guidelines on gold loans. Protecting the interests of small borrowers, especially those seeking loans below ₹2 lakh, such as farmers and daily earners, and ensuring timely and accessible credit has been my consistent demand.' 'While appreciating the positive consideration given to this issue, we emphasise that such policies having significant impact on the poor should be arrived at after due prior consultation with States,' he added.
The Hindu
3 days ago
- Business
- The Hindu
Thangam Thennarasu thanks Centre for instructing RBI to reconsider gold loan guidelines
Tamil Nadu Finance Minister Thangam Thennarasu on Friday (May 30, 2025) thanked the Union Finance Ministry for instructing the Reserve Bank of India (RBI) to ensure its draft regulations on gold loans do not adversely impact small borrowers. In a post on X, Mr. Thennarasu said the draft gold loan guidelines were anti-poor, hurting small borrowers. Referring to Tamil Nadu Chief Minister M.K. Stalin's letter to Union Finance Minister Nirmala Sitharaman, urging her intervention to advise the RBI to reconsider the proposed restriction in the Reserve Bank of India (Lending Against Gold Collateral) Directions, 2025, Mr. Thennarasu said it is a major victory for people, as a result of the relentless efforts of Mr. Stalin.
