With regulations in the loan-against-gold segment becoming tighter, Kochi-based Muthoot Finance‘s loan book is likely to grow at a much slower 16-25% this financial year, compared with 55-100% in the past. RBI has directed banks to reduce their lending exposure to gold loan companies from 10% to 7.50% of their net owned funds.
Gold loan company Muthoot Finance has recently extended the closing date of its secured redeemable non-convertible debenture (NCD) issue from March 17 to April 09. The issue offers 13%, 13.25%, and 13.43% rate of interest for tenures ranging from two year to five and half year. The NCD issue on Tuesday just managed to garner Rs 250 cr.
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