RBI asks lenders to address 'irregularities' in gold loans in 3 months

The RBI has directed lenders to address irregularities in gold loans within three months, emphasizing the need for stringent compliance and risk management practices. This directive comes in response to growing concerns over malpractices in the gold loan segment, which could expose financial institutions to significant risks. The RBI's intervention aims to ensure that lenders implement adequate checks and balances to safeguard against defaults and fraudulent activities. By prioritizing regulatory compliance, the RBI seeks to enhance the stability of the financial sector and protect the interests of consumers.