Current Affairs - Finance - Discussion

Discussion Forum : Finance - Latest Current Affairs (Q.No. 162)

2024-03-05 Finance

162.

Which financial institution has been banned by the RBI from giving gold loans?

Aditya Birla Capital

Muthoot Finance

Manappuram Finance

IIFL Finance

Answer: Option

Explanation:

The Reserve Bank of India (RBI) has imposed an immediate ban on IIFL Finance from giving gold loans due to supervisory concerns, including deviations in gold assessment and breaches in loan-to-value (LTV) ratios, as well as exceeding cash transaction limits.