Mathai George George Muthoot joined the family business as an office assistant and in 1979 he became the managing director and group chairman in February 1993.
Only borrow an amount that can be repaid comfortably. The ratio of total EMI to take-home salary should not exceed 40 per cent.
The Reserve Bank of India's (RBI's) draft guidelines on gold loans, if implemented in their current form, are expected to impact non-banking financial companies (NBFCs) and mid-tier banks in the near term, more significantly than larger banks, according to analysts.
The Virat Kohli-led Indian Premier League side Royal Challengers Bangalore on Friday unveiled its new logo ahead of the upcoming season starting March 29. The club said the new logo design, which features a lion, "embodies the bold and fearless attitude" of the side.
Loan against gold as a product is catching on fast. Let's keep the momentum going, but aim for sustainable growth. A few bad apples should not ruin the brunch, argues Tamal Bandyopadhyay.
As many as 75 million households that do not have access to banking services will be covered and at least one bank account opened for each household, against the earlier proposal of two.
An NCD's credit rating will tell you whether risk possibility is high or low. Instruments rated below AA are regarded as high-risk.
Gold loans can be released online or by bank transfers.
The superstar refuses to endorse any label except for one regional cola brand at the start of his career almost four decades ago.
In 2014, gold prices had fluctuated between Rs 27,000 and 30,000/10g.
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
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Reliance, Birla Group, Airtel eye small finance banks.
While taking gold out of the closet to borrow money is no longer taboo in Indian households, the sharp drop in gold prices is hitting the newest loan product on the banking turf hard, explains Tamal Bandyopadhyay.
The superstar's much-awaited film Kabali is set to release on July 22.
For the first time, consumers, including those at the so-called bottom of the pyramid, are monetising gold by taking loans from banks, offering the yellow metal as collateral, says Tamal Bandyopadhyay.
Gold prices fell to a 5-year low of less than $1,100/ounce.
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The RBI has accepted the application withdrawal request, according to the statement.
Licence winners are expected to be announced by the first quarter of 2014.
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