Gold Lust: Banks Flout Loan-To-Value Ratio Rule
  • Elizabeth George
  • Aug 13 2013

August 13: Bloomberg TV India’s special investigation reveals how banks are blatantly flouting the Reserve Bank of India’s norms and disbursing loans up to 95% of the gold value. Banks have been instructed not to lend over 60% of the gold taken as collateral, but some lenders are brazenly sanctioning loans higher than the central bank mandates.