Muthoot, Manappuram Finance fall over 8% on RBI’s advisory on cash disbursal; here’s what it means for gold financiers
Shares of gold financing companies – Muthoot Finance, and Manappuram Finance – were trading under pressure on Thursday after the Reserve Bank of India (RBI) sent the companies an advisory concerning cash disbursal of loans. The RBI has instructed Non-Banking Financial Companies (NBFCs) to strictly follow the provisions of the Income Tax Act regarding cash … Read more