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RBI is worried about gold loan startups. Here’s why.

RBI is worried about gold loan startups. Here’s why.
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Synopsis

India’s Reserve Bank has cautioned banks about gold loan disbursements through fintech startups. What made it take this step? An explainer.

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3 mins read,
This week, the Reserve Bank of India (RBI) made a move to flag concerns around processes that are followed in cases of gold loan disbursements through fintech startups. The central bank cautioned the system against the lax practices in such disbursements and asked banks partnering such startups to follow regulations stringently. Here’s a quick explainer on the intervention and why it matters. What are RBI's basic regulations around gold loans?

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