The financing firm auctioned the gold during the Covid-19 pandemic, but they had not published an auction notice in any newspaper as per the procedure, it was noted.
While passing the order on a petition filed by Muthoot Finance Limited, the Karnataka High Court said petitions were repeatedly calling into question notices issued under BNSS section 94 to produce gold articles.
Major Rule Changes in New Year 2026: The year is expected to begin with a set of financial changes influencing banking, taxation and household budgets.
For gold loans more than Rs 2.5 lakh and up to Rs 5 lakh, the LTV ratio has been set at 80 per cent. For loans more than Rs 5 lakh, the central bank has set an LTV of 75 per cent.
Lenders should not extend loans where ownership of the collateral is doubtful, and they should keep a record of the verification of the ownership of the collateral.
After the Reserve Bank of India (RBI) asked lenders to tighten the gold loans processes in September last year, the new system introduced by banks has come under fire from borrowers
Gold holds a significant place in Indian culture, often being accumulated over generations. During times of financial needs like hospital expenses and college fees, individuals are more willing to pledge their gold holdings like jewellery to secure loans.
QS rankings: IIT-Delhi tops India list for 2nd year, climbs to 118 globally
Education2 hr ago
IIT-Delhi has been ranked as the top Indian institution in the QS World University Rankings 2027 for the second year in a row, climbing five places to 118th globally. Other top Indian institutes include IIT-Bombay, IIT-Madras, and IIT-Kharagpur. However, IISc and IIT-Guwahati have dropped in the rankings.
