RBI hikes LTV limit on gold loans to mitigate impact of COVID-19
Announcing the bi-monthly Monetary Policy on August 6, the Reserve Bank of India noted that the disruptions caused by COVID-19 have led to increased financial stress for borrowers across the board, creating a huge challenge of their debt burden. Accordingly, the Central Bank has to decided to provide a window under the June 7th Prudential Framework to enable lenders to implement a resolution plan in respect of eligible corporate exposures - without change in ownership - as well as personal loans, while classifying such exposures as standard…