{"id":125798,"date":"2024-08-16T20:00:05","date_gmt":"2024-08-16T14:30:05","guid":{"rendered":"https:\/\/assamtimespost.in\/?p=125798"},"modified":"2024-08-16T20:00:05","modified_gmt":"2024-08-16T14:30:05","slug":"unstoppable-surge-gold-loan-demand-strong-despite-cash-disbursement-curbs-crisil-reports","status":"publish","type":"post","link":"https:\/\/assamtimespost.in\/?p=125798","title":{"rendered":"Unstoppable Surge: Gold Loan Demand Strong Despite Cash Disbursement Curbs, CRISIL Reports"},"content":{"rendered":"

\"\"<\/p>\n

G<\/span>old loan non-banking financial companies (NBFCs) experienced significant growth in June 2024, even as the Reserve Bank of India<\/a> (RBI) imposed cash disbursement restrictions, a CRISIL report reveals. This growth is buoyed by favorable gold prices and strong risk management practices.<\/span><\/h4>\n
\"Gold<\/a>
Gold Loan Demand Strong Despite Cash Disbursement Curbs, CRISIL Reports<\/figcaption><\/figure>\n

Ajit Velonie, Senior Director at CRISIL Ratings, highlighted an approximate 12% rise in June\u2019s disbursements compared to the previous quarter\u2019s average, with a notable 23% growth excluding one large player. These NBFCs effectively navigated the RBI\u2019s May 2024 directive, which mandated non-cash disbursements for loans exceeding Rs 20,000.<\/span><\/p>\n

The transition to digital channels was smooth, with only a minor increase in turnaround time, helping NBFCs maintain competitiveness over banks. However, CRISIL cautioned that a prolonged decline in gold prices could impact the sector. NBFCs must closely monitor loan-to-value (LTV) ratios and conduct timely auctions to mitigate risks.<\/span><\/p>\n

Despite the drop in gold prices following a reduction in customs duty in the Union Budget, the impact on gold-loan NBFCs has been minimal. According to CRISIL\u2019s director Malvika Bhotika, this resilience is due to a low LTV range of 60-65% as of June 30, 2024, and a focus on periodic interest collection.<\/span><\/p>\n

These measures indicate that gold loan NBFCs are well-positioned to manage gold price volatility and continue their robust performance despite regulatory changes.<\/span><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Gold loan non-banking financial companies (NBFCs) experienced significant growth in June 2024, even as the Reserve Bank of India (RBI) imposed cash disbursement restrictions, a CRISIL report reveals. This growth is buoyed by favorable gold prices and strong risk management practices. Ajit Velonie, Senior Director at CRISIL Ratings, highlighted an approximate 12% rise in June\u2019s 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