“Despite the recent imposition of new restrictions by the Reserve Bank of India on the provision of gold loans, banks and non-banking financial corporations, report continued growth in the sector. And, citizen demand for such loans has two institutions cozying up afresh, by filing applications to open up new centres. India’s largest pure play gold mortgage player Muthoot Finance has applied for a banking licence and maintains it can easily launch a commercial lending business with over 2,000 branches. While Muthoot Finance aims to cater to the small towns and villages, IndusInd bank will instead focus on the metros and will cater to self employed individuals.”
http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=198043&sn=Detail
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