Banks' aversion to higher interest may hurt India plan to draw out gold stocks

Last Updated: Saturday, August 22, 2015, 14:55

Indian lenders do not want to raise interest on gold deposits much beyond 1 percent, bankers said, which could derail a government plan to cut massive imports by mobilising tonnes of gold now stored in households and temples.

Gold financing stocks in demand; soar up to 20%

Last Updated: Thursday, January 9, 2014, 12:38

Shares of gold financing firms Muthoot Finance and Manappuram Finance Thursday surged up to 20 percent after the Reserve Bank allowed NBFCs to lend up to 75 percent of the value of metal from 60 percent at present.

Gold price suffers worst weekly loss in two months on Fed uncertainty

Last Updated: Saturday, November 23, 2013, 12:35

Gold notched a 3.7 percent weekly drop, while silver also posted its biggest losses since mid-September, down 4.5 percent.

Stocks of gold loan companies, jewellery makers tumble

Last Updated: Monday, April 15, 2013, 19:09

Shares of gold loan companies like Manappuram Finance and jewellery makers Monday fell sharply by up to over 13 percent, following weakness in gold prices which hit over 15-month low.