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 bankDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
