Latest news with #Nandakumar
The Hindu
17 hours ago
- Business
- 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.
Time of India
4 days ago
- Business
- Time of India
Two arrested for cheating Erode man of Rs 12 lakh by promising part-time job online
ERODE: The Erode district cyber crime police have arrested two men, including a govt employee, for duping a man of more than Rs 12 lakh. K Nandakumar, 38, of Kathirampatty in Erode district saw an advertisement on an instant messaging app in 2024 which claimed that there was a part-time job opportunity. "Nandakumar clicked on the link provided in the advertisement. This led him to a website where he completed various tasks, earning a few hundred rupees," stated an officer in the cybercrime unit. Nandakumar continued to perform all the tasks listed on the website. After winning the first round, he invested several lakhs of rupees and completed the tasks, under the impression that he needed to pay more to progress to the next level. Eventually, after paying Rs 12.71 lakh and being unable to recover his funds, Nandakumar lodged a complaint with the cyber crime police. The police checked the bank account to which the money was transferred. "We identified the suspects as M Shanmugam, 46, a construction worker in Krishnagiri district, and P Sudhakar, who was employed as an assistant at the Krishnagiri Government Medical College and Hospital, by reviewing their bank account details. The two have confessed to defrauding Nandakumar," the officer remarked. The arrested have been remanded in judicial custody. The police launched a search for another man, identified as Shanmugam, who is the prime suspect in the scam. He was absconding, police said.
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Business Standard
28-05-2025
- Business
- Business Standard
Indians in Tier-II cites bring 'faster growth' for travel industry: Report
Indians living in Tier-II cities are bringing faster growth for the travel industry by exploring domestic and international destinations, said a report on Wednesday, crediting growing discretionary spending and better connectivity for the trend. Indians' budget for holidays has increased by 20-50 per cent more compared to previous years, said Thomas Cook India and its subsidiary SOTC Travel in a joint report. 'When we look at demand, whether through website visits or in-store footfalls, Tier-II cities are showing faster growth compared to tier I cities,' S D Nandakumar, president and country head, holidays and corporate tours, SOTC Travel, told 'Business Standard'. 'While volumes (of travellers) are still higher in Tier-I cities, the growth rate in Tier-II is significantly faster. This applies not just to domestic travel but also to international destinations.' Smaller markets have had 'remarkable growth' in the last five to ten years, said Abraham Alapatt, president and group head for marketing, service quality, value added services and innovation at Thomas Cook India and SOTC Travel. 'People (travellers) now want a better holiday than last year or compared to their last holidays. Overall, the average spending by travellers has increased by four per cent in 2025 (summer season) on a year-on-year basis,' Alapatt said. Nandakumar and Alapatt noted that summer travel, particularly for leisure and B2C (business to consumers), continues to be a large part of travel business but not as dominant as it was 10 years ago. '...10 years back, the travel schedule used to have one big jump in summer and one slightly smaller jump in the Diwali-New Year period. Now, since most travellers (about 85 per cent) have increased their frequency of travel throughout the year, with a combination of long and short vacations, travel has become a year-round phenomenon. The dependence of the two-month period of summer has reduced slowly but steadily,' said Nandakumar. Movies once shaped people's decision to travel and discover new destinations. Now, 60 per cent of travellers gain inspiration from social media and OTT content, making the two platforms a key holiday driver for summer travel this year, said the report. '…the emerging travel segments for this summer were mother-daughter and cousin-sibling segments, senior female solo travellers, and GenS or empty nesters,' said Alapatt. While solo travelling has become popular among Indians, 90 per cent of them still prefer to travel with a company. Among travel trends, 45 per cent of respondents told the survey they prefer cruise holidays, 35 per cent driving vacations, and 20 per cent prefer scenic train journeys. This summer, Kashmir, Himachal Pradesh, Uttarakhand, the Northeast, Rajasthan, Kerala, Andaman and Nicobar Islands and Lakshadweep were among the top domestic locations for travellers. Internationally, Europe, led by Switzerland and France, South East Asia, Dubai, Japan, Bhutan, and South Korea were among the major destinations among Indian travellers. The report called 'India Holiday Report 2025' is based on a digital survey comprising 2,500 respondents and conducted over a month.
Time of India
26-05-2025
- Health
- Time of India
68-yr-old man falls into coma after surgery
T'puram: Police began probe into a 68-year-old Vattiyoorkavu native going into a coma stage allegedly after undergoing a surgery at SP Fort Hospital in Enchakkal. The relatives of Nandakumar filed a complaint with Vanchiyoor police, against the neurosurgeon for medical negligence. A case was registered on Sunday under BNS Section 125 for a negligent act that endangers human life or affects the personal safety. Nandakumar was admitted to the hospital on May 16 with age-related illnesses and the doctors found a haemorrhage in the brain during scanning. A surgery was recommended and the very next day he underwent the procedure. The relatives alleged in the complaint that he faded into a coma soon after the surgery and that there was a serious lapse by the doctors who performed the surgery. "A case has been registered. Medical negligence probes must be conducted by a DSP-ranked officer," police said. Since the case is in connection with medical negligence, police has to depend on report of a medical board or DMO to proceed further. TNN
Time of India
12-05-2025
- Entertainment
- Time of India
Nandakumar: Did you know that Cooku With Comali 6 contestant Nandakumar has participated in Master Chef 2?
In a surprising twist, , the talented and hilarious contestant from , has revealed that he is no stranger to the world of competitive cooking. Before joining the popular , Nandakumar had already participated in , showcasing his culinary skills on a national stage. Tired of too many ads? go ad free now While most viewers may know him for his quirky antics and entertaining presence on Cooku With Comali, Nandakumar's journey in the culinary world began long before he entered the Cooku With Comali kitchen. His appearance on MasterChef Tamil 2 helped him hone his skills, allowing him to experiment with a variety of cuisines and techniques. Fans of Cooku With Comali 6 have been captivated by Nandakumar's unique blend of humor and cooking talent. From his comedic timing to his passionate approach to food, he's quickly become a fan favorite. But what many might not realize is that his culinary expertise is rooted in years of dedication, learning, and experience. Having participated in MasterChef Tamil 2, Nandakumar brings a wealth of knowledge to the Cooku With Comali stage, demonstrating that his go beyond just being a source of entertainment. His previous experience on MasterChef has undoubtedly shaped his approach to cooking, helping him stand out as a well-rounded contestant in the competition. As Cooku With Comali 6 continues to unfold, Nandakumar's dual experience on both shows adds an interesting layer to his participation, sparking curiosity among viewers about how his culinary background will influence his journey in the ongoing season. Stay tuned to watch Nandakumar as he brings his cooking expertise, vibrant personality, and unpredictable antics to the screen!
