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    HomeNewsBusinessCompaniesManappuram okay with RBI notice on loans against jewellery

    Manappuram okay with RBI notice on loans against jewellery

    Reacting to the Reserve Bank of India's notification that loans given against jewellery as collateral would no longer be eligible for priority sector lending, shares of Manappuram General Finance & Leasing fell 6% to Rs 108 on Thursday.

    February 04, 2011 / 18:08 IST

    Reacting to the Reserve Bank of India's notification that loans given against jewellery as collateral would no longer be eligible for priority sector lending, shares of Manappuram General Finance & Leasing fell 6% to Rs 108 on Thursday. According to moneycontrol.com, investors feared that the loans-against-gold-jewellery firm's cost of borrowing may rise and hurt profitability.

    But Manappuram chairman and managing director VP Nandakumar says the central bank

    first published: Feb 4, 2011 06:04 pm

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