Chennai, May 22 -- Tamil Nadu Finance Minister Thangam Thennarasu on
Thursday said the nine rigid guidelines imposed by RBI on gold loans was deeply
insensitive and urged it to withdraw the new restrictions as it would grvely affect
the poor nd middle class who depend on such loans during emergencies.
These measures amounted to systematic injustice against the vulnerable and
said the RBI should adopt compassionate people-centric policies, he said.
In a post on X, he said "I urge the RBI to immediately withdraw the newly imposed
restrictions on gold loans."
"Reducing the loan-to-value ratio to 75% and burdening borrowers with excessive
documentation gravely affects poor and middle-class families who depend on such
loans during emerg...