In the first half of FY25, banks reported a 43.4% increase in gold loan disbursements due to high gold prices, leading to a total outstanding amount of Rs 147,081 crore by September 2024. The RBI flagged deficiencies in gold loan practices, prompting a review of policies and processes, including issues like third-party sourcing, inadequate due diligence, and incorrect application of risk-weights. The central bank also noted concerns over cash disbursal, short loan durations, and lack of transparency during auctions, urging lenders to improve their practices to mitigate risks.
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PM Modi invites Zelenskyy: Ukrainian envoy says date to be finalised soon; hails India's 'not neutral' stand on war
Prime Minister Narendra Modi has invited Ukrainian President Volodymyr Zelenskyy to visit India, with discussions ongoing to finalize a date, as stated by Ukrainian Ambassador Oleksandr Polishchuk. The envoy emphasized India's supportive stance in the Russia-Ukraine conflict and urged India to take a more active role in peace talks, reflecting the growing dialogue between the two nations. Want More Context? 🔎
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