MESSAGES

reason for todays fall. rbi said that gold loan nbfcs (not specific to iifl, but to all gold loan nbfcs like manappuran, muthoot) should not give more than rs.20000 in cash for those pledging thaye gold. instead transfer that money (anything more than rs.20000) to their bank accounts. does this news makes any sense? is there a reason to panic? the above said practice is already in place. and most gold loan companies already credit that amount to pledgers bank account if the cash value is more. those who read the headline news without going in to the nitty gritty details, panic and sell. if you go through the companys balance sheet, you will know why this is a multibagger at this price. anyway such panics are also good, as it creates more opportunity for accumulating. i am not a sebi registered advisor so do your due diligence before buying selling based on the information shared by me.