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Value Of Securities Evaporated When Gold Prices Dropped: B. D. Narang

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Bloomberg TV India spoke to B.D. Narang, banking sector veteran and former CMD of Oriental Commerce Bank, about the possible implications of falling gold prices on the banking system and gold loans. Stating that the loan-to-value (LTV) has dropped to 65% from the earlier 80%, he said, “The value of securities evaporated when gold prices dropped.”