The RBI barred Manappuram Finance earlier this week from accepting public deposits. It said that acceptance of deposits either by Manappuram Finance or by Manappuram Agro Farms (MAGRO) is punishable with imprisonment. The stock reacted sharply correcting 20% immediately, and is down 7% since.
CNBC-TV18 caught up with chairman and managing director of Manappuram General Finance & Leasing, VP Nandakumar, to get his view on the curbs that RBI is trying to enforce on the gold loan segment.
He says that he is not too concerned about RBI regulating gold loans.
Discover 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!
