Muthoot Finance slips 14% in 2 days on RBI's new rules for gold loans

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Muthoot Finance slips 14% in 2 days on RBI's new rules for gold loans - Business Standard

Quick Summary:

The Reserve Bank of India has proposed new rules to streamline gold loan practices, aiming to bring more transparency and control as lending in this segment grows rapidly.

Meanwhile, earlier this month, global rating agencies, S&P Global Ratings and Moody’s Ratings, upgraded the long-term issuer ratings of Muthoot Finance with a stable outlook.

Shares of Muthoot Finance have continued under pressure for the second straight trading day, and slipped 8 per cent to ₹1,964.35 on the BSE in Friday’s intra-day trade in an otherwise firm market.